<SEC-DOCUMENT>0001292814-17-000809.txt : 20170331
<SEC-HEADER>0001292814-17-000809.hdr.sgml : 20170331
<ACCEPTANCE-DATETIME>20170331080524
ACCESSION NUMBER:		0001292814-17-000809
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170331
FILED AS OF DATE:		20170331
DATE AS OF CHANGE:		20170331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL STEEL CO
		CENTRAL INDEX KEY:			0001049659
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14732
		FILM NUMBER:		17728013

	BUSINESS ADDRESS:	
		STREET 1:		RUA LAURO MULLER
		STREET 2:		116 36 ANDAR
		CITY:			RIO DE JANEIRO RJ BR
		STATE:			D5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sid20170330_6k2.htm
<DESCRIPTION>MANAGEMENT'S PROPOSAL
<TEXT>

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<DIV align=center><FONT color=#000000 size=5 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, D.C. 20549 </B></FONT></DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

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<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of March, 2017</B></FONT></DIV><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1-14732 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>

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

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>National Steel Company </B></FONT></DIV>

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

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Av. Brigadeiro Faria Lima 3400, 20&#186; andar<BR>S&#227;o Paulo, SP, Brazil<BR>04538-132 </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports<BR>under cover Form 20-F or Form 40-F.&nbsp;</FONT> Form 20-F ___X___ Form 40-F _______

<P>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P>Yes _______ No ___X____ </DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<IMG border=0 src="fp01a.jpg"></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif>COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Corporate Taxpayer's ID (CNPJ/MF) No. 33.042.730/0001-04</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>State Registry (NIRE) 35.300.396.090</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Publicly-Held Company</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>MANAGEMENT'S PROPOSAL</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>. </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>EXHIBIT I &#8211; Proposal and Justification of Amendments to the Bylaws</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>. </FONT></B></FONT></P></TD>

   <TD width="20%" align=right><FONT color=#17365d face=Calibri>5</FONT></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>ATTACHMENT II &#8211; Consolidated Bylaws</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>. </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>ATTACHMENT III - Information on the candidates to be elected at the Annual Shareholders' Meeting</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>&nbsp;&nbsp; </FONT></B></FONT></P></TD>

   <TD width="20%" align=right><FONT color=#17365d face=Calibri>44</FONT></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>ATTACHMENT IV - Information on the compensation of the Management</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>. </FONT></B></FONT></P></TD>

   <TD width="20%" align=right><FONT color=#17365d face=Calibri>59</FONT></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 5pt; LINE-HEIGHT: 115%"><FONT style="FONT-VARIANT: small-caps" color=#17365d><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt" color=#17365d face=Calibri,sans-serif>ATTACHMENT V - Sample of the Remote Voting Form</FONT></U></B></FONT><FONT style="DISPLAY: none" color=#17365d><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#17365d face=Calibri,sans-serif>.. </FONT></B></FONT></P></TD>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>MANAGEMENT'S PROPOSAL</FONT></B></FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Dear Shareholders</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Below is the Management's proposal of Companhia Sider&#250;rgica Nacional (&#8220;Company&#8221;) on the matters to be resolved at the Annual and Extraordinary Shareholders' Meeting to be convened on April 28, 2017.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>At the Extraordinary Shareholders' Meeting:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>1. Resolve on the proposed amendment and consolidation of the Company's Bylaws. </FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>We propose the amendment and consolidation of the Company's Bylaws, pursuant to the descriptions and reasoning in "</FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment I - Proposal and Reasoning for the Amendments to the Bylaws</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>", with its consequent consolidation, to reflect each of the proposed amendments. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Pursuant to Article 11 of CVM Instruction No. 481/2009, the Management clarifies that the goals of this proposal for the amendment of the Bylaws is to make it more current and efficient and to: (i) improve the wording of some articles, in order to reflect the standards and recommendations of CVM currently in force; (ii) review and balance the powers and duties of the Board of Directors and of the Executive Board, bringing more dynamism to the decision-making process of the Company; and (iii) adequate, improve and simplify the wording of all the other articles to make them more clear and objective. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Management believes that the amendments hereby proposed are in the best interest of the Company and of its shareholders, adjusting operational issues and improving the Bylaws and governance structure. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>If the amendments proposed are approved, the Bylaws of the company&nbsp;&nbsp; will become effective with the wording in </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment II</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>At the Annual Shareholders' Meeting:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>1. Establish the number of members of the Board of Directors and elect its members. </FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The proposal is for the Board of Directors, to be elected at the Annual Shareholders' Meeting, to have seven (7) members, among which one (1) will be the representative of the Company's employees, pursuant to Article 14 of the Company's Bylaws.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Please be advised that the election of members to the Board of Directors will be carried out through the simple voting system, with a complete coalition of candidates for the positions of member of the Board of Directors, which shall be submitted to the shareholders' approval, except if required the adoption of the process multiple voting.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>In case of a request for the multiple voting system, each common share will be assigned with as many votes as there are positions to be filled on the Board of Directors. The shareholder has the right to accumulate votes in a single candidate or to distribute them among several candidates. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>It is noteworthy that the request for the multiple voting system should be made by shareholders representing at least 5% of the voting capital of the Company.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>2</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company's controlling shareholders have informed the Management that they will appoint the following candidates to occupy the positions of members of the Board of Directors: Messrs. Benjamin Steinbruch, administrator, enrolled under the Individual Taxpayer's ID No. 618.266.778-87; Fernando Perrone, lawyer, enrolled under the Individual Taxpayer's ID No.&nbsp; 181.062.347-20; Yoshiaki Nakano, administrator, enrolled under the Individual Taxpayer's ID No.&nbsp; 049.414.548-04; Antonio Bernardo Vieira Maia, administrator, enrolled under the Individual Taxpayer's ID No.&nbsp;&nbsp; 510.578.677-72; L&#233;o Steinbruch, businessman, enrolled under the Individual Taxpayer's ID No. 110.885.048-09; and Jos&#233; Eduardo de Lacerda Soares, businessman, enrolled under the Individual Taxpayer's ID No. 088.973.848-38. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Pursuant to Paragraph 2 of Article 14 of the Bylaws, Mr. Fabiam Franklin was appointed as the representative of employees to join the Board of Directors.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>We clarify that, pursuant to Article 10 of CVM Instruction No. 481/09, the information on the above candidates for the positions of members of the Board of Directors are detailed in </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment III</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> of this proposal.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>2. Establish the Management's overall annual compensation for the year of 2017.</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>We propose that the compensation of the Management for the 2017 fiscal year to be fixed in the amount of up to R$76,407,910. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Please be advised that, concerning the 2016 fiscal year, the Company's Annual Shareholders' Meeting, held on April 28, 2016 ("2016 ASM"), approved the amount of R$88,816,047.00 for the annual overall compensation and, in the said period, the effective amount paid was of R$72,157,815.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The variation between the overall amount approved at the 2016 ASM and the amount actually paid in that year, was mainly due to the impact of the global macroeconomic situation, which led the company to postpone the plans to implement a Variable Compensation Program Based on Shares.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 42.55pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>We clarify that the information necessary for the proper examination of the proposal for the compensation of the Management, as provided for by Article 12 of CVM Instruction No. 481/09, are available at </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment IV</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> of this proposal.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Pursuant to the Material Fact published by the Company on March 27, 2017, the following matters will not be resolved on the present Annual and Extraordinary Shareholders' Meeting: (i) taking the Management's accounts, examine, discuss and vote on the Financial Statements for the fiscal year ended on December 31, 2016; and (ii) resolve on the allocation of the net income for the fiscal year ended on December 31, 2016. Thus, they will be subject to approval at the Extraordinary Shareholders' Meeting to be convened in due course by the Company.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Additionally, the Company announces that it has received a request from the minority shareholder "Caixa Beneficente dos Empregados" of Companhia Sider&#250;rgica Nacional &#8211; CBS (&#8220;CBS&#8221;) for the inclusion of candidates to occupy the positions of members of the board of directors and of the fiscal council of the Company, pursuant to Article 21-L, Item I of CVM Instruction 481/09, as amended. Thus, CBS appointed Mr. Nissim Asslan Kalili, administrator, enrolled under the Individual Taxpayer's ID No. 875.186.788-53, to occupy the position of member of the Board of Directors, in a separate vote, if it occurs. And, if installed the Fiscal Council, appointed Mr. Miguel Roberto Gherrize, enrolled under the Individual Taxpayer's ID No. </FONT></FONT>


<FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>107.140.308-72, as Sitting member, and Mr. William Pereira Pinto, enrolled under the Individual Taxpayer's ID No. 006.521.618-04, as his alternate. </FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The information requested in the items 12.5 to 12.10 of the Reference Form concerning the candidates appointed by CBS are also included in </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment III</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> of this proposal.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Finally, the Management announces that the participation of the shareholders at the Meeting may be in person, through a duly constituted proxy or by submitting the remote voting form, pursuant to CVMI 481, as amended. The sample of the Remote Voting Form and the general guidelines for the Shareholders who choose to vote in this manner are included in </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Attachment V</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> of this proposal.</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Calibri,sans-serif>S&#227;o Paulo, March 28, 2017.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The Management</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional</FONT></B></P>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>EXHIBIT I &#8211; Proposal and Justification of Amendments to the Bylaws</FONT></B></FONT></B></H3>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(pursuant to Article 11 of CVM Instruction No. 481/2009)</FONT></I></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#0033cc face=Calibri,sans-serif>PREVIOUS BYLAWS</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#0033cc face=Calibri,sans-serif>UPDATED BYLAWS</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#0033cc face=Calibri,sans-serif>ORIGIN AND</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#0033cc face=Calibri,sans-serif>JUSTIFICATION</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter I</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>NAME, OBJECT, HEADQUARTERS AND DURATION</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter I </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>NAME, OBJECT, HEADQUARTERS AND DURATION</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 1 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional, a publicly-held corporation established on April 9, 1941, shall be governed by these Bylaws and the applicable legislation.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 1 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional, a publicly-held corporation established on April 9, 1941, shall be governed by these Bylaws and the applicable legislation.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The purpose of the Company is to manufacture, transform and sell steel products and by products, including importing and exporting thereof, and to exploit any other similar activities that may, directly or indirectly, be related to the purposes of the Company, such as: mining, cement and carbon-chemical industries, metallic structure manufacture and assembly, construction, transportation, navigation and port activities.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The purpose of the Company is to manufacture, transform and sell steel products and by products, including importing and exporting thereof, and to exploit any other similar activities that may, directly or indirectly, be related to the purposes of the Company, such as: mining, cement and carbon-chemical industries, metallic structure manufacture and assembly, construction, transportation, navigation and port activities, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>as well as energy generation, management and trade in different forms and modalities, and holding equity interest in other domestic or international business incorporated under any form of partnership.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Energy generation, management and trading activities are already developed, in different forms and modalities, by CSN Energia S.A., a subsidiary of the Company.</FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The amendment is intended only to make it clearer, in CSN&#8217;s corporate purpose, the activities that are already carried out by its subsidiary. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>In turn, the second amendment proposed aims at clarifying that the Company may hold equity interests in other companies. As well as being an activity already performed by the Company, holding equity interests in other companies is a means for the Company to achieve its corporate purpose, in accordance with paragraph 3 of Article 2 of the Brazilian Corporate Law.</FONT></I></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>There are no legal or economic effects in the amendment proposed, given that it does entitle dissenting shareholders to exercise withdrawal rights, since it does not result in a significant change in the Company&#8217;s activities. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>5</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company has its head office and jurisdiction in the city of S&#227;o Paulo, State of S&#227;o Paulo, and may open or close branches, branch offices, agencies or offices </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>or representations</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> in any part of the country or abroad.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 77.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company has its head office and jurisdiction in the city of S&#227;o Paulo, State of S&#227;o Paulo,</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif> and may, as resolved by the Executive Board, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>open</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, transfer </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>or close branches, branch offices, agencies or </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>representation offices, or establishments of any other type, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>in any part of the country or abroad.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 77.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 77.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects. </FONT></P></TD></TR>

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   <TD style="HEIGHT: 35.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 4</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company shall remain in existence for an indefinite term.</FONT></P></TD>

   <TD style="HEIGHT: 35.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 4</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company shall remain in existence for an indefinite term.</FONT></P></TD>

   <TD style="HEIGHT: 35.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 35.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter II</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>CAPITAL AND SHARES</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter II </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>CAPITAL AND SHARES</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 5 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The capital stock of the Company, fully subscribed and paid in, is four billion, five hundred and forty million </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Reais </FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>(R$4,540,000,000.00), divided into one billion, three hundred and eight-seven million, five hundred and twenty-four thousand and forty-seven (1,387,524,047) common, book-entry shares with no par value.</FONT></P></TD>

   <TD style="HEIGHT: 80.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 5 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The capital stock of the Company, fully subscribed and paid in, is four billion, five hundred and forty million </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> (R$4,540,000,000.00), divided into one billion, three hundred and eight-seven million, five hundred and twenty-four thousand and forty-seven (1,387,524,047) common, book-entry shares with no par value.</FONT></P></TD>

   <TD style="HEIGHT: 80.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 80.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Sole Paragraph Each common share shall entitle the holder to one vote in the resolutions of the General Meeting.</FONT></STRIKE></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Transferred to Article 6. </FONT></I></P></TD>

   <TD style="HEIGHT: 33.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 6</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Unless otherwise decided by the General Meeting, dividends and interest on equity shall be paid within 60 (sixty) days as from the date they are declared and in any event during the same fiscal year.</FONT></STRIKE></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 6</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Each common share shall entitle the holder to one (01) vote in the resolutions of the General Meeting.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Inclusion of text transferred from the former Sole Paragraph of Article 5. The text regarding payment of dividends and interest on equity was transferred to Article 34. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 7</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The capital stock of the Company may be increased to up two billion four hundred million (2,400,000,000) shares, by decision of the Board of Directors.</FONT></P></TD>

   <TD style="HEIGHT: 81.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 7 - </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The capital stock of the Company may be increased to up two billion four hundred million (2,400,000,000) shares, by decision of the Board of Directors</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, regardless of any statutory reform.</FONT></P></TD>

   <TD style="HEIGHT: 81.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="HEIGHT: 81.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects. </FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>6</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 - The authorized capital stock may be reached, upon one or more share issues, at the discretion of the Board of Directors.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 64.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 - The authorized capital stock may be reached, upon one or more share issues, at the discretion of the Board of Directors.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 64.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 64.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 56.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 - Shareholders shall have preemptive rights in the case of subscription to a capital increase in proportion to the number of shares held.</FONT></P></TD>

   <TD style="HEIGHT: 56.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 - Shareholders shall have preemptive rights in the case of subscription to a capital increase in proportion to the number of shares held.</FONT></P></TD>

   <TD style="HEIGHT: 56.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 56.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 106.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 - At the discretion of the Board of Directors, preemptive rights for former shareholders may be excluded or the deadline for their exercise may be reduced in the case of the issue of shares and share-convertible debentures or subscription warrants, which are placed through sale on the stock exchange or by public subscription or through an exchange of shares in a public offer for the acquisition of control, pursuant to the prevailing legislation. </FONT></P></TD>

   <TD style="HEIGHT: 106.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 - At the discretion of the Board of Directors, preemptive rights for former shareholders may be excluded or the deadline for their exercise may be reduced in the case of the issue of shares and share-convertible debentures or subscription warrants, which are placed through sale on the stock exchange or by public subscription or through an exchange of shares in a public offer for the acquisition of control, pursuant to the prevailing legislation. </FONT></P></TD>

   <TD style="HEIGHT: 106.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 106.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 69.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 4 - The Board of Directors shall establish the price, term and conditions of each issue. </FONT></P></TD>

   <TD style="HEIGHT: 69.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 4 - The Board of Directors shall establish the price, term and conditions of each issue. </FONT></P></TD>

   <TD style="HEIGHT: 69.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 69.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 105.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 5 - Shareholders who fail to pay in the subscribed shares, as per the subscription order or call, shall be declared, for all legal purposes, to be in default and shall pay the Company interest of one percent (1%) per month or a fraction thereof, from the first (1st) day as of the failure to perform the obligation, adjusted for inflation pursuant to the law, in addition to a fine equivalent to ten per cent (10%) of the amount in arrears and not paid in.</FONT></P></TD>

   <TD style="HEIGHT: 105.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 5 - Shareholders who fail to pay in the subscribed shares, as per the subscription order or call, shall be declared, for all legal purposes, to be in default and shall pay the Company interest of one percent (1%) per month or a fraction thereof, from the first (1st) day as of the failure to perform the obligation, adjusted for inflation pursuant to the law, in addition to a fine equivalent to ten per cent (10%) of the amount in arrears and not paid in.</FONT></P></TD>

   <TD style="HEIGHT: 105.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 105.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter III</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>GENERAL MEETING</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter III </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>GENERAL MEETING</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 8 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The General Meeting is empowered to decide on all business related to the Company, take any resolutions it deems appropriate for its defense and development, and shall be called, with an indication of the agenda, as provided for by the law. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 8 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The General Meeting is empowered to decide on all business related to the Company, take any resolutions it deems appropriate for its defense and development, and shall be called, with an indication of the agenda, as provided for by the law. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 9</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The General Meeting shall be convened and chaired by the chairman of the Board of Directors or, in his or her absence, by whomever he or she appoints.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Sole Paragraph The Chairman shall appoint the secretary of the General Meeting</FONT></STRIKE></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Art. 9&#186;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - The General Meeting shall be </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>convened by the Board of Directors and </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>chaired by the chairman of the Board of Directors or, in his or her absence, by whomever he or she appoints. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>The chairman shall appoint the secretary of the General Meeting.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Paragraph 1 Prior to convening the General Meeting, shareholders must sign the Attendance Book informing their name, nationality, residence and the quantity of shares held by them. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Paragraph 2 The list of shareholders attending the meeting shall be closed by the chairman immediately after the General Meeting is convened. Shareholders arriving to the General Meeting after the closing of the list shall be able to participate in the meeting, although they shall not be entitled to vote any corporate decisions, and their actions shall not be valid for purposes of quorum or the votes attributed to each shareholder.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Paragraph 3 In order to participate and vote in General Meetings, shareholders must evidence their condition as such, by presenting a document issued by the financial institution that is the depositary of book-entry shares, as well as the identification documents of the shareholder, or, as the case may be, of the attorney in fact, together with the power of attorney. Should the shareholder be a legal entity or investment fund, it must also present the documents evidencing the authority and the identification of the persons attending the Meeting.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>To establish the rules and procedures for holding the General Meeting. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Legal effect of regulating the procedures adopted by the Company at its General Meetings.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>8</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 10 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The General Meeting shall meet ordinarily in the first four months following the end of the fiscal year in order to discuss matters referred to in article 132 of Law 6404 of December 15, 1976, and extraordinarily whenever corporate interests so require.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 10 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The General Meeting shall meet ordinarily in the first four months following the end of the fiscal year in order to discuss matters referred to in article 132 of Law 6404 of December 15, 1976, and extraordinarily whenever corporate interests so require.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 77.75pt">

   <TD style="HEIGHT: 77.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 11</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Shareholders </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>may be represented by a legal representative in the General Meetings</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> represented by a legal representative </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>as per Law 6404 of December 15, 1976</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> must submit </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>is submitted</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>the power-of-attorney to the company's headquarters up to 48 (forty-eight) hours before the time established for the Meeting.</FONT></P></TD>

   <TD style="HEIGHT: 77.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 11</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Shareholders </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>represented by </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>a legal representative </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>must submit</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> the power-of-attorney </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>to the company's</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> headquarters up to 48 (forty-eight) hours before the time established for the Meeting.</FONT></P></TD>

   <TD style="HEIGHT: 77.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="HEIGHT: 77.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter IV</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>MANAGEMENT</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter IV </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>MANAGEMENT</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section I</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Standard Rules</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section I </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Standard Rules</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 12</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The management of the Company shall be incumbent upon the Board of Directors and the Board of Executive Officers.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 12</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The management of the Company shall be incumbent upon the Board of Directors and the Board of Executive Officers.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 41.95pt">

   <TD style="HEIGHT: 41.95pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 13</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The remuneration of the managers shall be established by the General Meeting in accordance with the provisions of this article.</FONT></P></TD>

   <TD style="HEIGHT: 41.95pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 13</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The remuneration of the managers shall be established by the General Meeting in accordance with the provisions of this article.</FONT></P></TD>

   <TD style="HEIGHT: 41.95pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 41.95pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 113.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The fixed overall or individual remuneration of the managers, at the discretion of the General Meeting, shall comprise a fixed monthly amount, which are the fees, and in the case of the executive officers, may also include a variable amount to be paid yearly, calculated on the net income of the Company after formation of the reserves required by law, including for the payment of income tax, and of the provision for mandatory dividends.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 113.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The fixed overall or individual remuneration of the managers, at the discretion of the General Meeting, shall comprise a fixed monthly amount, which are the fees, and in the case of the executive officers, may also include a variable amount to be paid yearly, calculated on the net income of the Company after formation of the reserves required by law, including for the payment of income tax, and of the provision for mandatory dividends. </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 113.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 113.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 55.8pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the event that the General Meeting establishes an aggregate amount for the managers&#8217; remuneration, it is incumbent on the Board of Directors to distribute said amount. </FONT></P></TD>

   <TD style="HEIGHT: 55.8pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: -106.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the event that the General Meeting establishes an aggregate amount for the managers&#8217; remuneration, it is incumbent on the Board of Directors to distribute said amount. </FONT></P></TD>

   <TD style="HEIGHT: 55.8pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 55.8pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section</FONT></U><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> II</FONT></U></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>BOARD OF DIRECTORS</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section II </FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>BOARD OF DIRECTORS</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 14</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors is composed of up to 11 (eleven) members, elected by resolution of the General Meeting, with a term of office </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>of 1 (one) year</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, reelection being allowed. One member shall be the Chairman and another the Vice-Chairman. The term of office of the Board Members shall extend until the investiture of their successors.</FONT></P></TD>

   <TD style="HEIGHT: 127.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 14</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors is composed of up to 11 (eleven) members, elected or </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>dismissed at any time </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>by resolution of the General Meeting, with a term of office of </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>2 (two) years</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, reelection being allowed. One member shall be the Chairman and another </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Vice-Chairman. The term of office of the Board Members shall extend until the investiture of their successors.</FONT></P></TD>

   <TD style="HEIGHT: 127.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>We suggest extending the term of office of Board of Directors members from 01 year to 02 years. A 2-year term of office enables the formation of a more experienced and productive Board of Directors, as recommended by the IBGC regarding the best Corporate Governance practices. </FONT></I></P></TD>

   <TD style="HEIGHT: 127.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed generates legal effects for the Company. </FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The Chairman and Vice-Chairman of the Board of Directors shall be chosen by their peers, by majority vote, at the first meeting held after their investiture.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 67.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The Chairman and Vice-Chairman of the Board of Directors shall be chosen by their peers, by majority vote, at the first meeting held after their investiture.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 67.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 67.2pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 77.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the event that the employees of the Company, whether or not joined in an investment club or as co-owners, do not have a sufficient shareholding to guarantee membership on the Board of Directors, one position on the Board shall be reserved for the person chosen by the employees and in such a capacity, indicated to the General Meeting, through a specific procedure, to be elected to fill said position.</FONT></P></TD>

   <TD style="HEIGHT: 77.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the event that the employees of the Company, whether or not joined in an investment club or as co-owners, do not have a sufficient shareholding to guarantee membership on the Board of Directors, one position on the Board shall be reserved for the person chosen by the employees and in such a capacity, indicated to the General Meeting, through a specific procedure, to be elected to fill said position.</FONT></P></TD>

   <TD style="HEIGHT: 77.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 77.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 15</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors shall meet, ordinarily</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>, on the dates established in the yearly calendar approved by said Board in the last month of the immediately preceding year</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, and extraordinarily whenever called by the Chairman, the Vice-Chairman, when exercising the role of chairman, or the majority of its Members.</FONT></P></TD>

   <TD style="HEIGHT: 79.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 15</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors shall meet, ordinarily </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>at least once each quarter</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, and extraordinarily whenever called by the Chairman, the Vice-Chairman, when exercising the role of chairman, or the majority of its Members.</FONT></P></TD>

   <TD style="HEIGHT: 79.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The amendment proposed aims at adjusting the frequency of general meetings, which should be held at least at each three months. </FONT></I></P></TD>

   <TD style="HEIGHT: 79.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="HEIGHT: 49.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The meetings of the Board of Directors shall only be installed with the attendance of a majority of its members, and shall be presided over by its Chairman.</FONT></P></TD>

   <TD style="HEIGHT: 49.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The meetings of the Board of Directors shall only be installed with the attendance of a majority of its members, and shall be presided over by its Chairman.</FONT></P></TD>

   <TD style="HEIGHT: 49.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 49.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 91.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The Board of Directors meetings may be held, exceptionally, by conference call, video conferencing, electronic mail, or other means of communication, computing as present those members who </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>vote</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> by any of these means.</FONT></P></TD>

   <TD style="HEIGHT: 91.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The Board of Directors meetings may be held, exceptionally, by conference call, video conferencing, electronic mail, or other means of communication, computing as present those members who </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>manifest</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> by any of these means.</FONT></P></TD>

   <TD style="HEIGHT: 91.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="HEIGHT: 91.9pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 Minutes of the meetings shall be drawn up in a book for this purpose and, after being read and approved by those members present, shall be signed by a sufficient number to constitute the majority required for approval of the matters under examination.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 84.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 Minutes of the meetings shall be drawn up in a book for this purpose and, after being read and approved by those members present, shall be signed by a sufficient number to constitute the majority required for approval of the matters under examination.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 84.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 84.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 4 Board resolutions shall be passed by a majority vote of those present. In the event of a tie, the Chairman of the meeting shall have the casting vote, in addition to his own.</FONT></P></TD>

   <TD style="HEIGHT: 65.4pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 4 Board resolutions shall be passed by a majority vote of those present. In the event of a tie, the Chairman of the meeting shall have the casting vote, in addition to his own.</FONT></P></TD>

   <TD style="HEIGHT: 65.4pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 65.4pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 94.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 5 Meetings shall be called at least 72 (seventy-two) hours prior to the date of the meeting.</FONT></P></TD>

   <TD style="HEIGHT: 94.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 5 Meetings shall be called at least 72 (seventy-two) hours prior to the date of the meeting, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>except in case of urgency. The presence of all members of the Board of Directors shall wave any call formality. </FONT></P></TD>

   <TD style="HEIGHT: 94.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording was improved in order to adjust to the reality and daily routines of the Company.</FONT></I></P></TD>

   <TD style="HEIGHT: 94.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="HEIGHT: 70.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 6 The Board of Directors shall have a General Secretary, in whose absence will be replaced by another employee or manager designated by the Chairman of the Board.</FONT></P></TD>

   <TD style="HEIGHT: 70.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 6 The Board of Directors shall have a General Secretary, in whose absence shall be replaced by another employee or manager designated by the Chairman of the Board.</FONT></P></TD>

   <TD style="HEIGHT: 70.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 70.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 52.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 16</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In the cases of vacancy, temporary impediment, or absence of a member of the Board of Directors, the following rules shall be observed:</FONT></P></TD>

   <TD style="HEIGHT: 52.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 16</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In the cases of vacancy, temporary impediment, or absence of a member of the Board of Directors, the following rules shall be observed:</FONT></P></TD>

   <TD style="HEIGHT: 52.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 52.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>12</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 125.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I- In the case of vacancy of any member of the Board of Directors, the remaining members shall appoint a substitute to serve until the Company's next General Meeting, if the number of remaining members is less than the minimum provided </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>for in these bylaws</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, and who, if confirmed by the respective General Meeting, shall complete the term of the member replaced.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 125.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I. In the case of vacancy of any member of the Board of Directors, the remaining members shall appoint a substitute to serve until the Company's next General Meeting, if the number of remaining members is less than the minimum provided for </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>in the law</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, and who, if confirmed by the respective General Meeting, shall complete the term of the member replaced.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 125.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Adjustment required, taking into account that the Bylaws do not provide for a minimum number of Board of Directors members. This is only provided for in the law.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 125.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

<TR style="HEIGHT: 110.3pt">

   <TD style="HEIGHT: 110.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II- In the case of temporary impediment or absence of any member of the Board of Directors, the absent or impeded member may indicate a replacement from among the other members, who will replace and represent the impeded or absent member as long as the impediment lasts. If said impediment lasts for more than ninety days, however, the position will be deemed to be vacant.</FONT></P></TD>

   <TD style="HEIGHT: 110.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. In the case of temporary impediment or absence of any member of the Board of Directors, the absent or impeded member may indicate a replacement from among the other members, who shall replace and represent the impeded or absent member as long as the impediment lasts. If said impediment lasts for more than ninety days, however, the position shall be deemed to be vacant.</FONT></P></TD>

   <TD style="HEIGHT: 110.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 110.3pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 111.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III- If the vacancy occurs in the position of Chairman, the Vice-Chairman shall assume the office of Chairman or, in the lack thereof, by another member chosen by the remaining members. In the case of the Chairman's temporary impediment or absence, he shall be replaced by the Vice-Chairman or, in the lack thereof, by another member appointed by him.</FONT></P></TD>

   <TD style="HEIGHT: 111.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III. If the vacancy occurs in the position of Chairman, the Vice-Chairman shall assume the office of Chairman or, in the lack thereof, by another member chosen by the remaining members. In the case of the Chairman's temporary impediment or absence, he shall be replaced by the Vice-Chairman or, in the lack thereof, by another member appointed by him.</FONT></P></TD>

   <TD style="HEIGHT: 111.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 111.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="HEIGHT: 49.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV- In the cases of temporary impediment or absence under this Article 16, representatives shall act on their own behalf and on that of the members represented.</FONT></P></TD>

   <TD style="HEIGHT: 49.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV. In the cases of temporary impediment or absence under this Article 16, representatives shall act on their own behalf and on that of the members represented.</FONT></P></TD>

   <TD style="HEIGHT: 49.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 49.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 17</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Board Members shall, upon request, receive copies of the minutes of meetings of the Board of Executive Officers and any special committees created by the Board of Directors hereunder.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 80.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 17</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Board Members shall, upon request, receive copies of the minutes of meetings of the Board of Executive Officers and any special committees created by the Board of Directors hereunder.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 80.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 80.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 68.25pt">

   <TD style="HEIGHT: 68.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors may form special committees to assist it, with defined purposes and limited terms of activities, designating the members thereof.</FONT></P></TD>

   <TD style="HEIGHT: 68.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors may form special committees to assist it, with defined purposes and limited terms of activities, designating the members thereof.</FONT></P></TD>

   <TD style="HEIGHT: 68.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 68.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 78.55pt">

   <TD style="HEIGHT: 78.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph The special committees created by the Board of Directors will have neither an executive nor a deliberative function and their recommendations, proposals and/or opinions should be submitted for consideration by the Board of Directors.</FONT></P></TD>

   <TD style="HEIGHT: 78.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph The special committees created by the Board of Directors shall have neither an executive nor a deliberative function and their recommendations, proposals and/or opinions should be submitted for consideration by the Board of Directors.</FONT></P></TD>

   <TD style="HEIGHT: 78.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 78.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 41.15pt">

   <TD style="HEIGHT: 41.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In addition to the duties established by law, it is incumbent upon the Board of Directors:</FONT></P></TD>

   <TD style="HEIGHT: 41.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In addition to the duties established by law, it is incumbent upon the Board of Directors:</FONT></P></TD>

   <TD style="HEIGHT: 41.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="HEIGHT: 41.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 36.45pt">

   <TD style="HEIGHT: 36.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 6pt 1.7pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I- to establish the general policy for the businesses of the Company, its wholly-owned subsidiaries and controlled companies;</FONT></P></TD>

   <TD style="HEIGHT: 36.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I. to establish the general policy for the businesses of the Company, its wholly-owned subsidiaries and controlled companies;</FONT></P></TD>

   <TD style="HEIGHT: 36.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="HEIGHT: 36.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 67.05pt">

   <TD style="HEIGHT: 67.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. to approve the annual and pluriannual budgets, expansion projects and investment programs, and to follow up on execution and performance thereof </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>to call on the general meeting;</FONT></STRIKE></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 6pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 67.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. to approve the annual and pluriannual budgets, expansion projects and investment programs, and to follow up on execution and performance thereof;</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 51.3pt; LINE-HEIGHT: 115%; TEXT-INDENT: -42.5pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 67.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="HEIGHT: 67.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 36.15pt">

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>III. to call on the general meeting;;</FONT></P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR style="HEIGHT: 36.15pt">

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III - to elect and dismiss the members of the Board of Executive Officers and assign their duties;</FONT></P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV. to elect and dismiss the members of the Board of Executive Officers and assign their duties;</FONT></P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="HEIGHT: 36.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - to elect and dismiss the members of the Audit Committee and, if a position becomes vacant, to elect a substitute to complete the term of office of the replaced member;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>V. to elect and dismiss the members of the Audit Committee and, if a position becomes vacant, to elect a substitute to complete the term of office of the replaced member; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>14</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 99%; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 53pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 53pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>V - to assign to an Executive Officer the function of investor relations officer, which may or may not be exercised concurrently with other executive functions and whose powers are establish by law;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 53pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VI. to assign to an Executive Officer the function of investor relations officer, which may or may not be exercised concurrently with other executive functions and whose powers are establish by law;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 53pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 53pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VI - to appoint and dismiss the Company's independent auditors after hearing the recommendation of the Audit Committee;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VII. to appoint and dismiss the Company's independent auditors after hearing the recommendation of the Audit Committee;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VII - to appoint and dismiss the person responsible for the internal audit, who shall be a legally qualified employee of the Company and report to the Chairman of the Board of Directors;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VIII. to appoint and dismiss the person responsible for the internal audit, who shall be a legally qualified employee of the Company and report to the Chairman of the Board of Directors;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VIII - to decide on capital increases within the limits of authorized capital, observing the provisions of Article 7 of these Bylaws;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IX. to decide on capital increases within the limits of authorized capital, observing the provisions of Article 7 of these Bylaws;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IX - to authorize trading by the Company of its own shares for maintenance in treasury for subsequent sale or cancellation;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>X. to authorize trading by the Company of its own shares for maintenance in treasury for subsequent sale or cancellation;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>X - to establish the terms and other conditions for the placement of debentures, including those convertible to shares, specifying the limit of the capital increase resulting from the conversion of the debentures and the type and class of shares to be issued, as well as determining the conditions stated in items VI to VIII inclusive of article 59 of Law 6404/76 and the opportunity for issuance;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XI. to establish the terms and other conditions for the placement of debentures, including those convertible to shares, specifying the limit of the capital increase resulting from the conversion of the debentures and the type and class of shares to be issued, as well as determining the conditions stated in items VI to VIII inclusive of article 59 of Law 6404/76 and the opportunity for issuance;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved and renumbering of articles. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>15</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XI - to decide on the issuance by the Company of commercial papers, bonds, notes, and other securities intended to raise funds through primary or secondary distribution on the domestic or international capital markets;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XII. to decide on the issuance by the Company of commercial papers, bonds, notes, and other securities intended to raise funds through primary or secondary distribution on the domestic or international capital markets; </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XII. to establish criteria for the following acts by the Executive Officers, independently of prior authorization by the Board of Directors;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>a) acquisition</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>,</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> and disposal </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>and encumbrance</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> of any </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>permanent</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> assets;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>b) </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>conduction</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> of </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>any legal business by the Company</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, including financing and loans, </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>including companies directly or indirectly controlled</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> by </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>the Company</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>c) the constitution of any type of guarantee or encumbrance on any asset of the Company </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>that is not part of the Company&#8217;s permanent assets</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, including for the benefit or in favor of third parties as long as the party is a subsidiary entity, subsidiary or affiliate of the Company;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIII. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>to delegate and</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#002060 face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>establish criteria for the following acts by the Executive Officers, independently of prior authorization by the Board of Directors;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 51.3pt; LINE-HEIGHT: 115%; TEXT-INDENT: -42.5pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>a) acquisition </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>or</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> disposal of any assets of the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Company;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>b) </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>performance</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> of </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>any transaction, operation, agreement or arrangement of any nature</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, including financing and loans </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>in isolation or jointly, with due regard for the matters incumbent on the Executive Board, as provided for in article 21 hereof; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>c) constitution of any type of guarantee or encumbrance on any asset of the Company, including for the benefit or in favor of third parties, as long as the party is a subsidiary entity, subsidiary or affiliate of the Company;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>d) representation of the Company at General Meetings, shareholders meetings and/or equivalent meetings held by the companies, consortiums and other entities in which the Company may hold an equity interest, as well as regarding the matters submitted to said meetings; </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items. Redefinition of approval authority rules, so as to harmonize the authority of the Board of Directors and the Executive Board, making the Company&#8217;s decision-making process more dynamic.</FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Board the authority to resolve on certain matters, regardless of approval of the Board of Directors, in accordance with the approval authority levels established by this body.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>16</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIII - to decide on the operation or action constituting a transfer of the Company's funds to others, including employee associations, recreational assistance entities, pension funds, foundations and public corporations;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 25.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIV. to decide on the operation or action constituting a transfer of the Company's funds to others, including employee associations, recreational assistance entities, pension funds, foundations and public corporations;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 25.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 25.65pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="HEIGHT: 20.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>XIV. to require audits of companies, foundations and similar entities in which the Company participates;</FONT></STRIKE></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 20.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>This matter was transferred to the authority of the Executive Board. </FONT></P></TD>

   <TD style="HEIGHT: 20.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Redefinition of authority of the Executive Board, improving the Company&#8217;s decision-making processes.</FONT></I></P></TD>

   <TD style="HEIGHT: 20.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign authority to the Executive Board to resolve on this matter. </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIV - to resolve on any acts involving transformation, consolidation, spin-off, incorporation or liquidation of companies in which the Company has corporate holding;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XV. to resolve on any acts involving transformation, consolidation, spin-off, incorporation or liquidation of companies </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>in which</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> the Company has corporate holding</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, directly or indirectly, as well as regarding the incorporation of companies in Brazil or abroad, by the Company and its subsidiaries;;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%; TEXT-INDENT: 7.1pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XV. </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>to decide on the establishment</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>of </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>subsidiaries by the Company, as well as on</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> the </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>acquisition</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> of </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>equity interest, and</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>to resolve on the representation of the Company </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>at the</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>General Meetings</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> and shareholders&#8217; meetings and on matters submitted to said meetings;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVI. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>to resolve on the Company&#8217;s interest in (i) other companies or undertakings, as partner or shareholder, including through consortiums or special partnerships, (ii) in partnership agreements, shareholders&#8217; agreements or partners&#8217; agreements; and (iii) in capital increases in the companies in which the Company holds an equity interest;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improvement and transfer to item XII of the authority to resolve on representation of the Company at General Meetings and shareholders' meetings, as well as on the matters discussed at these meetings, so that the Board of Directors be able to delegate this authority to the Executive Board. Wording improvement and the possibility that the Board of Directors delegate authority to the Executive Board to resolve on the representation of CSN at the meetings of subsidiaries and on voting guidance.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign authority to the Executive Board to resolve on certain matters, regardless of approval of the Board of Directors, in accordance with the approval authority levels established by this body.</FONT></P></TD></TR></TABLE></DIV>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVI - to appoint and dismiss the General Secretary of the Board of Directors and define his duties;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVII. to appoint and dismiss the General Secretary of the Board of Directors and define his duties;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVII - to establish policies for taking up tax incentives;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVIII - to establish policies for taking up tax incentives;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XVIII - to establish the remuneration, determine the duties, and approve the operational rules for the functioning of the Audit Committee and any other committees that may be created;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIX - to establish the remuneration, determine the duties, and approve the operational rules for the functioning of the Audit Committee and any other committees that may be created </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>to support it</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved and renumbering of articles. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIX - to resolve any omissions and perform other legal duties that do not conflict with those established by these Bylaws or by Law;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIX. to resolve any omissions and perform other legal duties that do not conflict with those established by these </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Bylaws</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> or by Law;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved and renumbering of articles. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>XIX. to resolve on any matters </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>that go beyond the authority established</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> regarding the Executive Board, </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>as provided for in Article 19</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 6pt 1.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>XX. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>to resolve on any matters </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>listed in item XIII of article 19 hereof, except for the possibility that the Board delegates and gives powers of authority to the Executive Board, as provided for in said item.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 1.7pt; LINE-HEIGHT: 115%; TEXT-INDENT: 7.1pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Sole paragraph &#8211; Relating to item XIII hereof, the Board of Directors may delegate and give powers of authority regarding the practice of said acts by two Executive Officers, who must always sign jointly, regardless of approval by the meetings of the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Executive Board</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif> and/or the Board of Directors. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>To state the possibility that the Board of Directors delegate and define the approval authority for the Executive Board, and that said acts be performed by two Executive Officers. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Board authority to resolve on certain matters, regardless of approval of the Board of Directors, in accordance with the approval authority levels established by this body.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section III</FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>EXECUTIVE BOARD</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Section III </FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>EXECUTIVE BOARD</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 20</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company shall have a Board of Executive Officers composed of two (2) to nine (9) Executive Officers, at the discretion of the Board of Directors, one of whom to be the Chief Executive Officer and the other, Executive Officers, each having an area of activity determined by the Board of Directors, one of whom shall be designated as the investor relations officer.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 20</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company shall have a Board of Executive Officers composed of two (2) to nine (9) Executive Officers, at the discretion of the Board of Directors, one of whom to be the Chief Executive Officer and the other, Executive Officers, each having an area of activity determined by the Board of Directors, one of whom shall be designated as the investor relations officer.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>18</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The term of office of the Executive Officers is two (2) years, reelection being allowed, and will last until their respective successors take office;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The term of office of the Executive Officers is two (2) years, reelection being allowed, and shall last until their respective successors take office;</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the case of impediment or vacancy of any Officer, said Officer will be replaced in accordance with the determination of the Board of Directors. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 In the case of impediment or vacancy of any Officer, said Officer shall be replaced in accordance with the determination of the Board of Directors. </FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 The Executive Officers shall perform their duties on a full-time basis.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 The Executive Officers shall perform their duties on a full-time basis.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 115%; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 21</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - With due regard for the guidelines and resolutions of the Board of Directors and the General Meeting, the Board of Executive Officers shall have authority to administer and manage the business of the Company, with powers to perform all acts and carry out all transactions related to the purpose of the Company, with due regard for the provisions established by the Board of Directors (Article 19, item </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>XII</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>) and other provisions provided for herein.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 21</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - With due regard for the guidelines and resolutions of the Board of Directors and the General Meeting, the Board of Executive Officers shall have authority to administer and manage the business of the Company, with powers to perform all acts and carry out all transactions related to the purpose of the Company, with due regard for the provisions established by the Board of Directors (Article 19, item </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>XIII</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>) and other provisions provided for herein.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Adjustment to reference. </FONT></I></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Paragraph 1 &#8211; In addition to the attributions provided for herein, it shall be incumbent on the</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Executive Board </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>to resolve on the following matters:</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Paragraph 1 It is incumbent</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>upon the Board of Executive Officers to appoint an Executive Officer or attorney in fact with specific powers to represent the Company severally in certain acts</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>I.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> to appoint an Executive Officer or attorney in fact with specific powers to represent the Company severally in certain acts, except as provided for in article 25, II;</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Paragraph 2 The Board of Executive Officers</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>shall authorize the opening, transfer or closing of branches, agencies, offices and establishments of any other kind of the Company.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>II.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> to authorize the opening, transfer or closing of branches, agencies, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>representation </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>offices </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>or </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>establishments of any other kind of the Company, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>in any region of Brazil or abroad; and</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Paragraph 3 The Board of Executive Officers shall</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> approve the names of the persons to be appointed by the Company to the executive boards and boards of directors, advisory, fiscal and decision-making councils of subsidiaries directly or indirectly controlled by or associated with the Company, as well as associations, foundations and other types of corporate groups in which the Company participates.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>III.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> to approve the names of the persons to be appointed by the Company to the executive boards and boards of directors, advisory, fiscal and decision-making councils of subsidiaries directly or indirectly controlled by or associated with the Company, as well as associations, foundations and other types of corporate groups in which the Company participates.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Renumbering of items.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Paragraph 2 - It is incumbent on the Executive Officers, always in pairs, regardless of the approval by the meetings of the Executive Board or the Board of Directors:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision-making process more dynamic and agile. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>I. authorize audits in companies, associations, foundations and similar entities in which the Company participates;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision-making process more dynamic and agile. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 2.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: 1.65pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></I></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>20</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>II. to negotiate confidentiality agreements;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision-making process more dynamic and agile. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>III. to engage routine bank services, under any modality, which are in line with the practices of the Company;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision making process more dynamic and agile. </FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>IV. to enter into loan and export prepayment agreements (exports advance payments) between the Company and subsidiaries in which the Company has equity interest of at least 99%; and</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision making process more dynamic and agile. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>21</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>No correspondence</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>V. to authorize the provision of surety in real estate lease agreements for employees and Executive Officers.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>The duties of the Company&#8217;s Executive Offers were reviewed and updated according to their daily needs, particularly regarding their routines, in order to make the Company's decision making process more dynamic and agile. </FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendments proposed will produce legal effects to the extent that they assign to the Executive Officers the authority to resolve on certain matters only in pairs, without the need to submit the matter for approval of the Executive Board or the Board of Directors.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 22.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Executive Officers shall meet whenever summoned by the Chief Executive Officer or by two Executive Officers, and shall be installed if a majority of its members are present.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 22</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>. The Board of Executive Officers shall meet whenever summoned by the Chief Executive Officer or by two Executive Officers, and shall be installed if a majority of its members are present.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The Board of Executive Officers shall decide always by a majority vote of those present. In the event of a tie, the Board of Executive Officers shall submit the matter to the Board of Directors for resolution. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The Board of Executive Officers shall decide always by a majority vote of those present. In the event of a tie, the Board of Executive Officers shall submit the matter to the Board of Directors for resolution. </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 Resolutions of the Board of Executive Officers shall be recorded in minutes drawn up in the proper book and signed </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>by all present members</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, the copies of all minutes being sent to the members of the Board of Directors upon request.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 Resolutions of the Board of Executive Officers shall be recorded in minutes drawn up in the proper book and signed </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>by a number of attendants that is sufficient to constitute the majority required for approval of the matters discussed, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>the copies of all minutes being sent to the members of the Board of Directors upon request.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 23</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Chief Executive Officer shall:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 23</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Chief Executive Officer shall:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - preside over meetings of the Board of Executive Officers;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - preside over meetings of the Board of Executive Officers;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>22</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 99%; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II - carry out the executive direction of the Company, to that end coordinating and supervising the activities of the other Executive Officers, ensuring full observance of the resolutions and policies established by the Board of Directors and General Meeting;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II - carry out the executive direction of the Company, to that end coordinating and supervising the activities of the other Executive Officers, ensuring full observance of the resolutions and policies established by the Board of Directors and General Meeting;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III - organize, coordinate and supervise the activities of the areas directly subordinated to him;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III - organize, coordinate and supervise the activities of the areas directly subordinated to him;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - assign special activities and duties to any of the Executive Officers independently of their normal ones, ad referendum of the Board of Directors;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - assign special activities and duties to any of the Executive Officers independently of their normal ones, ad referendum of the Board of Directors;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>V keep the Board of Directors informed of the activities of the Company; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>V - keep the Board of Directors informed of the activities of the Company; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VI - prepare, with the assistance of the other Executive Officers, and submit to the Board of Directors proposals to (i) define the duties of the other Executive Officers; and (ii) establish the criteria as to amounts or limit for expenditure for acts by each of the Executive Officers; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VI - prepare, with the assistance of the other Executive Officers, and submit to the Board of Directors proposals to (i) define the duties of the other Executive Officers; and (ii) establish the criteria as to amounts or limit for expenditure for acts by each of the Executive Officers; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VII -prepare the annual report and draw up the balance sheet, together with the other Executive Officers.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>VII - prepare the annual report and draw up the balance sheet, together with the other Executive Officers.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 24</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> It is incumbent upon each of the Executive Officers, within the specific sphere of activity assigned to them by the Board of Directors:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 24</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> It is incumbent upon each of the Executive Officers, within the specific sphere of activity assigned to them by the Board of Directors:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - to represent the Company in accordance with the law and these bylaws;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - to represent the Company in accordance with the law and these </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Bylaws</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>23</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II - to organize, coordinate and supervise the services for which they are responsible;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II - to organize, coordinate and supervise the services for which they are responsible;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III - to attend Board of Executive Officers meetings, helping define the policies to be followed by the Company and reporting on matters in their respective areas of supervision and coordination;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III - to attend Board of Executive Officers meetings, helping define the policies to be followed by the Company and reporting on matters in their respective areas of supervision and coordination; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - to comply and cause compliance with the policies and general guidelines for the business of the Company established by the Board of Directors, each Executive Officer being responsible for his specific area of activity.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - to comply and cause compliance with the policies and general guidelines for the business of the Company established by the Board of Directors, each Executive Officer being responsible for his specific area of activity.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 25</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The representation of the Company and the practice of acts necessary for its normal operation shall be the responsibility of the Executive Officers, subject to the following provisions.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 25</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The representation of the Company and the practice of acts necessary for its normal operation shall be the responsibility of the Executive Officers, subject to the following provisions.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; All acts, agreements or documents that imply responsibility for the Company or that release third parties from responsibilities or obligations with the Company shall be signed (a) by two Executive Officers, (b) by an Executive Officer and one attorney in fact with these specific powers, or (c) by two attorneys in fact with these specific powers, under penalty of not being binding upon the Company; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; All acts, agreements or documents that imply responsibility for the Company or that release third parties from responsibilities or obligations with the Company shall be signed (a) by two Executive Officers, (b) by an Executive Officer and one attorney in fact with these specific powers, or (c) by two attorneys in fact with these specific powers, under penalty of not being binding upon the Company; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; With the exception of the provisions in these Bylaws, the Company may be represented in isolation by any one Executive Officers or attorney in fact with special powers in the following circumstances: (i) when performing simple routine administrative acts, including those in connection with government departments in general, autonomous government entities, government-owned companies, mixed-capital companies, the Commercial Registry, Labor Courts, National Social Security Institute, Unemployment Compensation Fund, and its banks, (ii) before public service concessionaires or licensees in acts that do not imply the assumption or release of third party obligations; (iii) to protect its rights in administrative proceedings or of any nature, and in meeting its tax, labor, or social security obligations; (iv) in the endorsement of securities for purposes of collection or deposit in the Company's bank accounts; (v) </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>to represent the Company </FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>in general meetings of shareholders or the equivalent of companies, consortia, and other entities in which the Company participates; (vi) for the purpose of receiving subpoenas, citations, notices, or judicial notifications in active and passive representation of the Company in court and testify in person, or similar acts; and (vii) the signature of documents of any kind that may result in the assumption of commitments in circumstances in which the presence of a second representative is not possible and if authorized by the Board of Executive Officers (Art. 21),</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> paragraph 1</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. With the exception of the provisions in these Bylaws, the Company may be represented in isolation by any one Executive Officers or attorney in fact with special powers in the following circumstances: (i) when performing simple routine administrative acts, including those in connection with government departments in general, autonomous government entities, government-owned companies, mixed-capital companies, the Commercial Registry, Labor Courts, National Social Security Institute, Unemployment Compensation Fund, and its banks, (ii) before public service concessionaires or licensees in acts that do not imply the assumption or release of third party obligations; (iii) to protect its rights in administrative proceedings or of any nature, and in meeting its tax, labor, or social security obligations; (iv) in the endorsement of securities for purposes of collection or deposit in the Company's bank accounts; (v) in general meetings of shareholders, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>partners&#8217; meetings and/</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>or the equivalent of companies, consortia, and other entities </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> which the Company </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>holds equity</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, (vi) for the purpose of receiving subpoenas, citations, notices, or judicial notifications in active and passive representation of the Company in court and testify in person, or similar acts, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>without the power of confession</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, and (vii) the signature of documents of any kind that may result in the assumption of commitments in circumstances in which the presence of a second representative is not possible and if authorized by the Board of Executive Officers (Art. 21, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Sole Paragraph, Item I</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the only legal effect from the amendment proposed is the inclusion of the restriction of the power to confess.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The acts for which these Bylaws require prior authorization by the Board of Directors may only be performed after said condition has been met;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The acts for which these </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Bylaws</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> require prior authorization by the Board of Directors may only be performed after said condition has been met;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The Board of Directors shall define the amount above which the acts and instruments entailing liabilities for the Company shall necessarily be signed by an Executive Officer jointly with an attorney in fact with specific powers;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The Board of Directors shall define the amount above which the acts and instruments entailing liabilities for the Company shall necessarily be signed by an Executive Officer jointly with an attorney in fact with specific powers;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 26</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The following rules shall be observed as regards the appointment of attorneys in fact:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 26</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The following rules shall be observed as regards the appointment of attorneys in fact:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - all powers of attorney shall be signed by two Executive Officers or by one Executive Officer jointly with an attorney in fact appointed by the Board of Directors; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I - all powers of attorney shall be signed by two Executive Officers or by one Executive Officer jointly with an attorney in fact appointed by the Board of Directors; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>Except in the event of judicial powers of attorney, which may be granted for an indefinite period</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, all powers of attorney shall be granted for a specific term of no more than one year, with specific and limited powers.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II. all powers of attorney shall be granted for a specific term of no more than one year, with specific and limited powers</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, except for &#8220;ad judicia&#8221; powers of attorney, or those granted to lawyers regarding administrative proceedings filed with the Brazilian Federal Revenue Service, State Departments, Municipal Departments and the National Department of Mineral Production &#8211; DNPM, which may be granted for an indefinite period.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>To include the possibility that the powers of attorney granted to lawyers in the scope of administrative proceedings filed with some public bodies be effective for an undetermined period of time, just like &#8220;ad judicia&#8221; powers of attorney, which would facilitate the Company&#8217;s routines and reduce costs.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the legal effect arising from the amendment proposed is the possibility to grant powers of attorney, for an undetermined period of time, to the attorneys who work in administrative proceedings. </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 27</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Any acts performed without due regard for the rules established in these bylaws, particularly in articles 25 and 26, shall be null and void, and shall not give rise to any liabilities for the Company.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 27</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Any acts performed without due regard for the rules established in these </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Bylaws</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, particularly in articles 25 and 26, shall be null and void, and shall not give rise to any liabilities for the Company.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>25</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter V</FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>FISCAL COUNCIL</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter V</FONT></U><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>FISCAL COUNCIL</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 28</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Designed to function in the fiscal years in which it is constituted at the request of shareholders, the Fiscal Council shall be composed of three (3) sitting members and three (3) alternates elected by the General Meeting, which shall establish the compensation of the sitting members.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 28</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> Designed to function in the fiscal years in which it is constituted at the request of shareholders, the Fiscal Council shall be composed of three (3) sitting members and three (3) alternates elected by the General Meeting, which shall establish the compensation of the sitting members.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph - The Fiscal Council's term of office ends upon the first Annual General Meeting held after it has been constituted.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph - The Fiscal Council's term of office ends upon the first Annual General Meeting held after it has been constituted.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VI</FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>AUDIT COMMITTEE</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VI</FONT></U><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> AUDIT COMMITTEE</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Article 29 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>The Company will have an Audit Committee composed of </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>three (3) </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>members elected by the Board of Directors from among its members, with term of office of</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> one (1) year</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, reelection being allowed.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Article 29 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>The Company shall have an Audit Committee composed of three (3) members elected by the Board of Directors from among its members, with term of office of</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>two (2) years</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>, reelection being allowed.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Extension of the term of office of the members of the Audit Committee from 1 year to 2 years, in line with the suggestion for changing the term of office of Board of Directors&#8217; members. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed will produce legal effects for the Company to the extent that it increases the term of office of Audit Committee members to two (2) years.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Sole Paragraph The Board of Directors will approve the Internal Rules of the Committee, whereby its functions and duties, which shall comply with the laws and regulations applicable to audit committees, will be determined.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Sole Paragraph The Board of Directors shall approve the Internal Rules of the Committee, whereby its functions and duties, which shall comply with the laws and regulations applicable to audit committees, shall be determined.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VII</FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>FISCAL YEAR, BALANCE SHEETS AND PROFITS</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VII</FONT></U><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> FISCAL YEAR, BALANCE SHEETS AND PROFITS</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>26</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 30</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The fiscal year shall end on December 31 of each year, when the Financial Statements shall be drawn up and, after examination by the Board of Directors, submitted to the General Meeting, along with the proposal for allocation of net income for the year.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 30</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The fiscal year shall end on December 31 of each year, when the Financial Statements shall be drawn up and, after examination by the Board of Directors, submitted to the General Meeting, along with the proposal for allocation of net income for the year.</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The accumulated losses and provision for income and social contribution taxes will be deducted from the result of the year, prior to any profit sharing.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 1 The accumulated losses and provision for income and social contribution taxes shall be deducted from the result of the year, prior to any profit sharing.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The net income shall mandatorily have the following allocation:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 2 The net income shall mandatorily have the following allocation:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; five per cent (5%) shall be allocated to the legal reserve fund until reaching twenty per cent (20%) of the subscribed capital stock;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; five per cent (5%) shall be allocated to the legal reserve fund until reaching twenty per cent (20%) of the subscribed capital stock;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; payment of mandatory dividends (Article 33);</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; payment of mandatory dividends (Article 33);</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III &#8211; allocation of the remaining income shall be resolved by the General Meeting, observing the legal precepts.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III &#8211; allocation of the remaining income shall be resolved by the General Meeting, observing the legal precepts.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 The Board of Directors may propose, for the deliberation of the Meeting, the deduction of at least 1% (one percent) from net income for the year for the establishment of a Working Capital and Investment Reserve, in accordance with the following precepts:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Paragraph 3 The Board of Directors may propose, for the deliberation of the Meeting, the deduction of at least 1% (one percent) from net income for the year for the establishment of a Working Capital and Investment Reserve, in accordance with the following precepts:</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; its constitution shall not jeopardize the right to minimum mandatory dividends referred to in Article. 33; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; its constitution shall not jeopardize the right to minimum mandatory dividends referred to in Article. 33; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; its balance in conjunction with the other income reserves, excluding reserves for contingencies and unrealized profits, may not exceed the Company&#8217;s capital stock, under penalty of capitalization or distribution in cash of the surplus at the discretion of the General Meeting;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; its balance in conjunction with the other income reserves, excluding reserves for contingencies and unrealized profits, may not exceed the Company&#8217;s capital stock, under penalty of capitalization or distribution in cash of the surplus at the discretion of the General Meeting;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III. </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>the reserve</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>It is intended to ensure the maintenance and development of activities that constitute the Company's corporate purpose and investments in fixed assets, or additions to working capital including through amortizations of the Company&#8217;s debt, independently of the retention of profits linked to the capital budget;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III. the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>Working Capital and Investment Reserve</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> is intended to ensure the maintenance and development of activities that constitute the Company's corporate purpose and investments in fixed assets, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>/or additions to working capital including through amortizations of the Company&#8217;s debt, independently of the retention of profits linked to the capital budget;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - its balance may be used (i) to absorb losses whenever necessary, (ii) for the distribution of dividends at any time, (iii) for the redemption, refund, or purchase of shares as authorized by law, and (iv) be incorporated into the Company&#8217;s capital, including through stock bonuses consisting of new shares.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV - its balance may be used (i) to absorb losses whenever necessary, (ii) for the distribution of dividends at any time, (iii) for the redemption, refund, or purchase of shares as authorized by law, and (iv) be incorporated into the Company&#8217;s capital, including through stock bonuses consisting of new shares.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>31</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In addition, it shall be incumbent upon the Board of Directors: </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>31</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> In addition, it shall be incumbent upon the Board of Directors: </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; to determine the drawing up of half-yearly and quarterly balance sheets, or for shorter periods, observing the legal precepts;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>I &#8211; to determine the drawing up of half-yearly and quarterly balance sheets, or for shorter periods, observing the legal precepts;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; to approve the payment of any additional or interim dividends, including as a total or partial advance on the mandatory dividend for the year in progress, observing the legal provisions;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>II &#8211; to approve the payment of any additional or interim dividends, including as a total or partial advance on the mandatory dividend for the year in progress, observing the legal provisions;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>28</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 99%; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III &#8211; to declare dividends to the year&#8217;s profit account verified in the half-yearly balance sheets, retained earnings or profit reserves existing in the last annual or half-yearly balance sheet;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>III &#8211; to declare dividends to the year&#8217;s profit account verified in the half-yearly balance sheets, retained earnings or profit reserves existing in the last annual or half-yearly balance sheet; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV &#8211; pay interest on equity attributing the interest paid or credited to the mandatory dividend (Article 33), pursuant to Article 9, paragraph 7 of Law 9249 of December 26, 1995.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>IV &#8211; pay interest on equity attributing the interest paid or credited to the mandatory dividend (Article 33), pursuant to Article 9, paragraph 7 of Law 9249 of December 26, 1995.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>32</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors&#8217; act to resolve on the advance payment of the mandatory dividend shall determine if these payments will be monetarily restated, deducted from the mandatory dividend for the year and once this deduction is determined, the Annual General Meeting will be the payment of the mandatory balance, if any, as well as the reversal to the original account of the amount paid in advance.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>32</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Board of Directors&#8217; act to resolve on the advance payment of the mandatory dividend shall determine if these payments shall be monetarily restated, deducted from the mandatory dividend for the year and once this deduction is determined, the Annual General Meeting shall be the payment of the mandatory balance, if any, as well as the reversal to the original account of the amount paid in advance.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Unchanged.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 137.4pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -137.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>N/A</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 33</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The dividend distribution in each year shall not be less than twenty-five percent (25%) of the net income, pursuant to article 202 of Law 6404 of December 15, 1976, and in compliance with Article 30 hereof.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 33</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The dividend distribution in each year shall not be less than twenty-five percent (25%) of the net income, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>adjusted</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> pursuant to article 202 of Law 6404 of December 15, 1976, and in compliance with Article 30 </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>hereof</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 34</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - Dividends shall be paid on the dates and at the places indicated by the Executive Officer in charge of the Investor Relations area. If not claimed within three (3) years as from the beginning of the payment, dividends shall become time-barred in favor of the Company.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article 34</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> - Dividends and</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif> interest on shareholders&#8217; equity</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> shall be paid on the dates and at the places indicated by the Executive Officer in charge of the Investor Relations area</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, in accordance with the terms established by the General Shareholders&#8217; Meeting or the Board of Directors, when applicable</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>. If not claimed within three (3) years as from the beginning of the payment, dividends shall become time-barred in favor of the Company.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved.</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects. </FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VIII</FONT></U></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>LIQUIDATION </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Chapter VIII</FONT></U><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>DISSOLUTION AND </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>LIQUIDATION</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved to include the rules for dissolution of the Company in the Bylaws, as provided for in the Brazilian Corporate Law. </FONT></I></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>35</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company shall be </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" color=red face=Calibri,sans-serif>liquidated</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> in the events established by Law, with due regard for the applicable rules.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>35</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> The Company </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>shall be dissolved, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>liquidated </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>or extinguish </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>in the events established by Law, with due regard for the applicable rules</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>, or as resolved by the General Meeting</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved to include the rules for dissolution of the Company in the Bylaws, as provided for in the Brazilian Corporate Law. </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR>

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   <TD style="HEIGHT: 156pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="33%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph The General Meeting that approves the liquidation shall appoint the liquidator and the members of the Fiscal Council that shall function during the liquidation period, establishing their respective fees.</FONT></P></TD>

   <TD style="HEIGHT: 156pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Sole Paragraph The General Meeting that approves the liquidation shall appoint the liquidator and the members of the Fiscal Council that shall function during the liquidation period, establishing their respective fees </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=blue face=Calibri,sans-serif>and the guidelines for its operation.</FONT></P></TD>

   <TD style="HEIGHT: 156pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Wording improved. </FONT></I></P></TD>

   <TD style="HEIGHT: 156pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.25pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>Management understands that the amendment proposed has no material legal and economic effects.</FONT></P></TD></TR></TABLE></DIV>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>ATTACHMENT II &#8211; Consolidated Bylaws</FONT></B></FONT></B></H3>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(pursuant to article 11 of CVM Instruction 481/2009)</FONT></I></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif>COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Bylaws</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter I</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>NAME, OBJECT, HEADQUARTERS AND DURATION</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional, a publicly-held corporation established on April 9, 1941, shall be governed by these Bylaws and the applicable legislation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The purpose of the Company is to manufacture, transform and sell steel products and by products, including importing and exporting thereof, and to exploit any other similar activities that may, directly or indirectly, be related to the purposes of the Company, such as: mining, cement and carbon-chemical industries, metallic structure manufacture and assembly, construction, transportation, navigation and port activities, as well as energy generation, management and trade in different forms and modalities, and holding equity interest in other domestic or international business incorporated under any form of partnership.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has its head office and jurisdiction in the city of S&#227;o Paulo, State of S&#227;o Paulo, and may, as resolved by the Executive Board, open, transfer or close branches, branch offices, agencies or representation offices, or establishments of any other type, in any part of the country or abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 4</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company shall remain in existence for an indefinite term.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter II</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>CAPITAL AND SHARES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 5 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The capital stock of the Company, fully subscribed and paid in, is four billion, five hundred and forty million </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> (R$4,540,000,000.00), divided into one billion, three hundred and eight-seven million, five hundred and twenty-four thousand and forty-seven (1,387,524,047) common, book-entry shares with no par value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 6</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp; Each common share shall entitle the holder to one (01) vote in the resolutions of the General Meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The capital stock of the Company may be increased to up two billion four hundred million (2,400,000,000) shares, by decision of the Board of Directors, regardless of any statutory reform.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 - The authorized capital stock may be reached, upon one or more share issues, at the discretion of the Board of Directors.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Shareholders shall have preemptive rights in the case of subscription to a capital increase in proportion to the number of shares held.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - At the discretion of the Board of Directors, preemptive rights for former shareholders may be excluded or the deadline for their exercise may be reduced in the case of the issue of shares and share-convertible debentures or subscription warrants, which are placed through sale on the stock exchange or by public subscription or through an exchange of shares in a public offer for the acquisition of control, pursuant to the prevailing legislation. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 4 - The Board of Directors shall establish the price, term and conditions of each issue. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 5 - Shareholders who fail to pay in the subscribed shares, as per the subscription order or call, shall be declared, for all legal purposes, to be in default and shall pay the Company interest of one percent (1%) per month or a fraction thereof, from the first (1st) day as of the failure to perform the obligation, adjusted for inflation pursuant to the law, in addition to a fine equivalent to ten per cent (10%) of the amount in arrears and not paid in.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter III</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>GENERAL MEETING</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The General Meeting is empowered to decide on all business related to the Company, take any resolutions it deems appropriate for its defense and development, and shall be called, with an indication of the agenda, as provided for by the law. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Art. 9&#186;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp; The General Meeting shall be convened by the Board of Directors and chaired by the chairman of the Board of Directors or, in his or her absence, by whomever he or she appoints. The chairman shall appoint the secretary of the General Meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior to convening the General Meeting, shareholders must sign the Attendance Book informing their name, nationality, residence and the quantity of shares held by them. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The list of shareholders attending the meeting shall be closed by the chairman immediately after the General Meeting is convened. Shareholders arriving to the General Meeting after the closing of the list shall be able to participate in the meeting, although they shall not be entitled to vote any corporate decisions, and their actions shall not be valid for purposes of quorum or the votes attributed to each shareholder.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In order to participate and vote in General Meetings, shareholders must evidence their condition as such, by presenting a document issued by the financial institution that is the depositary of&nbsp; book-entry shares, as well as the identification documents of the shareholder, or, as the case may be, of the attorney in fact, together with the power of attorney. Should the shareholder be a legal entity or investment fund, it must also present the documents evidencing the authority and the identification of the persons attending the Meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 10&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The General Meeting shall meet ordinarily in the first four months following the end of the fiscal year in order to discuss matters referred to in article 132 of Law 6404 of December 15, 1976, and extraordinarily whenever corporate interests so require.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 11</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; Shareholders represented by a legal representative must submit the power-of-attorney to the company's headquarters up to 48 (forty-eight) hours before the time established for the Meeting.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter IV</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>MANAGEMENT</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Section I</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Standard Rules</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 12</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; The management of the Company shall be incumbent upon the Board of Directors and the Board of Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 13</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; The remuneration of the managers shall be established by the General Meeting in accordance with the provisions of this article.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The fixed overall or individual remuneration of the managers, at the discretion of the General Meeting, shall comprise a fixed monthly amount, which are the fees, and in the case of the executive officers, may also include a variable amount to be paid yearly, calculated on the net income of the Company after formation of the reserves required by law, including for the payment of income tax, and of the provision for mandatory dividends. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event that the General Meeting establishes an aggregate amount for the managers&#8217; remuneration, it is incumbent on the Board of Directors to distribute said amount.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Section II</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>BOARD OF DIRECTORS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 14</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; The Board of Directors is composed of up to 11 (eleven) members, elected or dismissed at any time by resolution of the General Meeting, with a term of office of 2 (two) years, reelection being allowed. One member shall be the Chairman and another the Vice-Chairman. The term of office of the Board Members shall extend until the investiture of their successors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Chairman and Vice-Chairman of the Board of Directors shall be chosen by their peers, by majority vote, at the first meeting held after their investiture.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event that the employees of the Company, whether or not joined in an investment club or as co-owners, do not have a sufficient shareholding to guarantee membership on the Board of Directors, one position on the Board shall be reserved for the person chosen by the employees and in such a capacity, indicated to the General Meeting, through a specific procedure, to be elected to fill said position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 15</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; The Board of Directors shall meet, ordinarily at least once each quarter, and extraordinarily whenever called by the Chairman, the Vice-Chairman, when exercising the role of chairman, or the majority of its Members.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The meetings of the Board of Directors shall only be installed with the attendance of a majority of its members, and shall be presided over by its Chairman.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors meetings may be held, exceptionally, by conference call, video conferencing, electronic mail, or other means of communication, computing as present those members who manifest by any of these means.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minutes of the meetings shall be drawn up in a book for this purpose and, after being read and approved by those members present, shall be signed by a sufficient number to constitute the majority required for approval of the matters under examination.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board resolutions shall be passed by a majority vote of those present. In the event of a tie, the Chairman of the meeting shall have the casting vote, in addition to his own.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meetings shall be called at least 72 (seventy-two) hours prior to the date of the meeting, except in case of urgency. The presence of all members of the Board of Directors shall wave any call formality. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors shall have a General Secretary, in whose absence shall be replaced by another employee or manager designated by the Chairman of the Board.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 16</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the cases of vacancy, temporary impediment, or absence of a member of the Board of Directors, the following rules shall be observed:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I. In the case of vacancy of any member of the Board of Directors, the remaining members shall appoint a substitute to serve until the Company's next General Meeting, if the number of remaining members is less than the minimum provided for in the law, and who, if confirmed by the respective General Meeting, shall complete the term of the member replaced.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II. In the case of temporary impediment or absence of any member of the Board of Directors, the absent or impeded member may indicate a replacement from among the other members, who shall replace and represent the impeded or absent member as long as the impediment lasts. If said impediment lasts for more than ninety days, however, the position shall be deemed to be vacant.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III. If the vacancy occurs in the position of Chairman, the Vice-Chairman shall assume the office of Chairman or, in the lack thereof, by another member chosen by the remaining members. In the case of the Chairman's temporary impediment or absence, he shall be replaced by the Vice-Chairman or, in the lack thereof, by another member appointed by him.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV. In the cases of temporary impediment or absence under this Article 16, representatives shall act on their own behalf and on that of the members represented.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 17</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; Board Members shall, upon request, receive copies of the minutes of meetings of the Board of Executive Officers and any special committees created by the Board of Directors hereunder.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; The Board of Directors may form special committees to assist it, with defined purposes and limited terms of activities, designating the members thereof.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Sole Paragraph&nbsp;&nbsp;&nbsp; The special committees created by the Board of Directors shall have neither an executive nor a deliberative function and their recommendations, proposals and/or opinions should be submitted for consideration by the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; In addition to the duties established by law, it is incumbent upon the Board of Directors:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I. to establish the general policy for the businesses of the Company, its wholly-owned subsidiaries and controlled companies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II. to approve the annual and pluriannual budgets, expansion projects and investment programs, and to follow up on execution and performance thereof;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III. to call on the general meeting;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV. to elect and dismiss the members of the Board of Executive Officers and assign their duties;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>V. to elect and dismiss the members of the Audit Committee and, if a position becomes vacant, to elect a substitute to complete the term of office of the replaced member;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>VI. to assign to an Executive Officer the function of investor relations officer, which may or may not be exercised concurrently with other executive functions and whose powers are establish&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; by law;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>VII. to appoint and dismiss the Company's independent auditors after hearing the recommendation of the Audit Committee;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>VIII. to appoint and dismiss the person responsible for the internal audit, who shall be a legally qualified employee of the Company and report to the Chairman of the Board of Directors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IX. to decide on capital increases within the limits of authorized capital, observing the provisions of Article 7 of these Bylaws;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>X. to authorize trading by the Company of its own shares for maintenance in treasury for subsequent sale or cancellation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XI. to establish the terms and other conditions for the placement of debentures, including those convertible to shares, specifying the limit of the capital increase resulting from the conversion of the debentures and the type and class of shares to be issued, as well as determining the conditions stated in items VI to VIII inclusive of article 59 of Law 6404/76 and the opportunity for issuance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XII. to decide on the issuance by the Company of commercial papers, bonds, notes, and other securities intended to raise funds through primary or secondary distribution on the domestic or international capital markets;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XIII. to delegate and establish criteria for the following acts by the Executive Officers, independently of prior authorization by the Board of Directors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>a) acquisition or disposal of&nbsp; any assets of the Company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>b) performance of any transaction, operation, agreement or arrangement of any nature, including financing and loans in isolation or jointly, with due regard for the matters incumbent on the Executive Board, as provided for in article 21 hereof; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>c) constitution of any type of guarantee or encumbrance on any asset of the Company, including for the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>benefit or in favor of third parties, as long as the party is a subsidiary entity, subsidiary or affiliate of the Company;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>d) representation of the Company at General Meetings, shareholders meetings and/or equivalent meetings held by the companies, consortiums and other entities in which the Company may hold an equity interest, as well as regarding the matters submitted to said meetings; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XIV. to decide on the operation or action constituting a transfer of the Company's funds to others, including employee associations, recreational assistance entities, pension funds, foundations and public corporations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>This matter was transferred to the authority of the Executive Board. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XV. to resolve on any acts involving transformation, consolidation, spin-off, incorporation or liquidation of companies&nbsp; in which the Company has corporate holding, directly or indirectly, as well as regarding the incorporation of companies in Brazil or abroad, by the Company and its subsidiaries;;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XVI. to resolve on the Company&#8217;s interest in (i) other companies or undertakings, as partner or shareholder, including through consortiums or special partnerships, (ii) in partnership agreements, shareholders&#8217; agreements or partners&#8217; agreements; and (iii) in capital increases in the companies in which the Company holds an equity interest;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XVII.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to appoint and dismiss the General Secretary of the Board of Directors and define his duties;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XVIII -&nbsp;&nbsp; to establish policies for taking up tax incentives;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XIX -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to establish the remuneration, determine the duties, and approve the operational rules for the functioning of the Audit Committee and any other committees that may be created to support it;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XX.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to resolve any omissions and perform other legal duties that do not conflict with those established by these Bylaws or by Law;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>XXI. to resolve on any matters&nbsp; listed in item XIII of article 19 hereof, except for the possibility that the Board delegates and gives powers of authority to the Executive Board, as provided for in said item.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Sole paragraph &#8211; Relating to item XIII hereof, the Board of Directors may delegate and give powers of authority regarding the practice of said acts by two Executive Officers, who must always sign jointly, regardless of approval by the meetings of the Executive Board and/or the Board of Directors. </FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Section III</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>EXECUTIVE BOARD</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 20</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company shall have a Board of Executive Officers composed of two (2) to&nbsp; nine (9) Executive Officers, at the discretion of the Board of Directors, one of whom to be the Chief Executive Officer and the other, Executive Officers, each having an area of activity determined by the Board of Directors, one of whom shall be designated as the investor relations officer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The term of office of the Executive Officers is two (2) years, reelection being allowed, and shall last until their respective successors take office;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the case of impediment or vacancy of any Officer, said Officer shall be replaced in accordance with the determination of the Board of Directors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Executive Officers shall perform their duties on a full-time basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 21</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - With due regard for the guidelines and resolutions of the Board of Directors and the General Meeting, the Board of Executive Officers shall have authority to administer and manage the business of the Company, with powers to perform all acts and carry out all transactions related to the purpose of the Company, with due regard for the provisions established by the Board of Directors (Article 19, item XIII) and other provisions provided for herein.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 &#8211; In addition to the attributions provided for herein, it shall be incumbent on the Executive Board to resolve on the following matters:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I. to appoint an Executive Officer or attorney in fact with specific powers to represent the Company severally in certain acts, except as provided for in article 25, II;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II. to authorize the opening, transfer or closing of branches, agencies, representation offices or establishments of any other kind of the Company, in any region of Brazil or abroad; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III. to approve the names of the persons to be appointed by the Company to the executive boards and boards of directors, advisory, fiscal and decision-making councils of subsidiaries directly or indirectly controlled by or associated with the Company, as well as associations, foundations and other types of corporate groups in which the Company participates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2 - It is incumbent on the Executive Officers, always in pairs, regardless of the approval by the meetings of the Executive Board or the Board of Directors:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I. authorize audits in companies, associations, foundations and similar entities in which the Company participates;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II. to negotiate confidentiality agreements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III. to engage routine bank services, under any modality, which are in line with the practices of the Company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV. to enter into loan and export prepayment agreements (exports advance payments) between the Company and subsidiaries in which the Company has equity interest of at least 99%; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>V. to authorize the provision of surety in real estate lease agreements for employees and Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 22</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>. The Board of Executive Officers shall meet whenever summoned by the Chief Executive Officer or by two Executive Officers, and shall be installed if a majority of its members are present.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Executive Officers shall decide always by a majority vote of those present. In the event of a tie, the Board of Executive Officers shall submit the matter to the Board of Directors for resolution. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resolutions of the Board of Executive Officers shall be recorded in minutes drawn up in the proper book and signed by a number of attendants that is sufficient to constitute the majority required for approval of the matters discussed, the copies of all minutes being sent to the members of the Board of Directors upon request.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 23</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Chief Executive Officer shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I - preside over meetings of the Board of Executive Officers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II - carry out the executive direction of the Company, to that end coordinating and supervising the activities of the other Executive Officers, ensuring full observance of the resolutions and policies established by the Board of Directors and General Meeting;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III - organize, coordinate and supervise the activities of the areas directly subordinated to him;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV - assign special activities and duties to any of the Executive Officers independently of their normal ones, ad referendum of the Board of Directors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>V - keep the Board of Directors informed of the activities of the Company; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>VI -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; prepare, with the assistance of the other Executive Officers, and submit to the Board of Directors proposals to (i) define the duties of the other Executive Officers; and (ii) establish the criteria as to amounts or limit for expenditure for acts by each of the Executive Officers; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>VII -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; prepare the annual report and draw up the balance sheet, together with the other Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 24</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is incumbent upon each of the Executive Officers, within the specific sphere of activity assigned to them by the Board of Directors:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to represent the Company in accordance with the law and these Bylaws;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to organize, coordinate and supervise the services for which they are responsible;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to attend Board of Executive Officers meetings, helping define the policies to be followed by the Company and reporting on matters in their respective areas of supervision and coordination; and</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to comply and cause compliance with the policies and general guidelines for the business of the Company established by the Board of Directors, each Executive Officer being responsible for his specific area of activity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 25</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The representation of the Company and the practice of acts necessary for its normal operation shall be the responsibility of the Executive Officers, subject to the following provisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I &#8211; All acts, agreements or documents that imply responsibility for the Company or that release third parties from responsibilities or obligations with the Company shall be signed (a) by two Executive Officers, (b) by an Executive Officer and one attorney in fact with these specific powers, or (c) by two attorneys in fact with these specific powers, under penalty of not being binding upon the Company; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II. With the exception of the provisions in these Bylaws, the Company may be represented in isolation by any one Executive Officers or attorney in fact with special powers in the following circumstances: (i) when performing simple routine administrative acts, including those in connection with government departments in general, autonomous government entities, government-owned companies, mixed-capital companies, the Commercial Registry, Labor Courts, National Social Security Institute, Unemployment Compensation Fund, and its banks, (ii) before public service concessionaires or licensees in acts that do not imply the assumption or release of third party obligations; (iii) to protect its rights in administrative proceedings or of any nature, and in meeting its tax, labor, or social security obligations; (iv) in the endorsement of securities for purposes of collection or deposit in the Company's bank accounts; (v) in general meetings of shareholders, partners&#8217; meetings and/or the equivalent of companies, consortia, and other entities in which the Company holds equity,&nbsp;&nbsp; (vi)&nbsp;&nbsp; for the purpose of receiving subpoenas, citations, notices, or judicial notifications in active and passive representation of the Company in court and testify in person, or similar acts, without the power of confession, and (vii) the signature of documents of any kind that may result in the assumption of commitments in circumstances in which the presence of a second representative is not possible and if authorized by the Board of Executive Officers (Art. 21, Sole Paragraph, Item I)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The acts for which these Bylaws require prior authorization by the Board of Directors may only be performed after said condition has been met;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors shall define the amount above which the acts and instruments entailing liabilities for the Company shall necessarily be signed by an Executive Officer jointly with an attorney in fact with specific powers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 26</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following rules shall be observed as regards the appointment of attorneys in fact:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I -all powers of attorney shall be signed by two Executive Officers or by one Executive Officer jointly with an attorney in fact appointed by the Board of Directors; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II-all powers of attorney shall be granted for a specific term of no more than one year, with specific and limited powers, except for &#8220;ad judicia&#8221; powers of attorney, or those granted to lawyers regarding administrative proceedings filed with the Brazilian Federal Revenue Service, State Departments, Municipal Departments and the National Department of Mineral Production &#8211; DNPM, which may be granted for an indefinite period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 27</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any acts performed without due regard for the rules established in these Bylaws, particularly in articles 25 and 26, shall be null and void, and shall not give rise to any liabilities for the Company.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter V</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>FISCAL COUNCIL</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 28</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed to function in the fiscal years in which it is constituted at the request of shareholders, the Fiscal Council shall be composed of three (3)&nbsp; sitting members and three (3)&nbsp; alternates elected by the General Meeting, which shall establish the compensation of the sitting members.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Sole Paragraph&nbsp;&nbsp;&nbsp; - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fiscal Council's term of office ends upon the first Annual General Meeting held after it has been constituted.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter VI</FONT></U></P>

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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>AUDIT COMMITTEE</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Article 29 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>The Company shall have an Audit Committee composed of three (3) members elected by the Board of Directors from among its members, with term of office of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> two (2) years, reelection being allowed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Calibri,sans-serif>Sole Paragraph &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors shall approve the Internal Rules of the Committee, whereby its functions and duties, which shall comply with the laws and regulations applicable to audit committees, shall be determined.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter VII</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>FISCAL YEAR, BALANCE SHEETS AND PROFITS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 30</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The fiscal year shall end on December 31 of each year, when the Financial Statements shall be drawn up and, after examination by the Board of Directors, submitted to the General Meeting, along with the proposal for allocation of net income for the year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The accumulated losses and provision for income and social contribution taxes shall be deducted from the result of the year, prior to any profit sharing.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The net income shall mandatorily have the following allocation:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I &#8211; five per cent (5%) shall be allocated to the legal reserve fund until reaching twenty per cent (20%) of the subscribed capital stock;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II &#8211; payment of mandatory dividends (Article 33);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III &#8211; allocation of the remaining income shall be resolved by the General Meeting, observing the legal precepts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Paragraph 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors may propose, for the deliberation of the Meeting, the deduction of at least 1% (one percent) from net income for the year for the establishment of a Working Capital and Investment Reserve, in accordance with the following precepts:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I &#8211; its constitution shall not jeopardize the right to minimum mandatory dividends referred to in Article. 33; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II &#8211; its balance in conjunction with the other income reserves, excluding reserves for contingencies and unrealized profits, may not exceed the Company&#8217;s capital stock, under penalty of capitalization or distribution in cash of the surplus at the discretion of the General Meeting;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III. the Working Capital and Investment Reserve is intended to ensure the maintenance and development of activities that constitute the Company's corporate purpose and investments in fixed assets, and/or additions to working capital including through amortizations of the Company&#8217;s debt, independently of the retention of profits linked to the capital budget;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV - its balance may be used (i) to absorb losses whenever necessary, (ii) for the distribution of dividends at any time, (iii) for the redemption, refund, or purchase of shares as authorized by law, and (iv) be incorporated into the Company&#8217;s capital, including through stock bonuses consisting of new shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>31</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, it shall be incumbent upon the Board of Directors: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>I &#8211; to determine the drawing up of half-yearly and quarterly balance sheets, or for shorter periods, observing the legal precepts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>II &#8211; to approve the payment of any additional or interim dividends, including as a total or partial advance on the mandatory dividend for the year in progress, observing the legal provisions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>III &#8211; to declare dividends to the year&#8217;s profit account verified in the half-yearly balance sheets, retained earnings or profit reserves existing in the last annual or half-yearly balance sheet; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>IV &#8211; pay interest on equity attributing the interest paid or credited to the mandatory dividend (Article 33), pursuant to Article 9, paragraph 7 of Law 9249 of December 26, 1995.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>32</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors&#8217; act to resolve on the advance payment of the mandatory dividend shall determine if these payments shall be monetarily restated, deducted from the mandatory dividend for the year and once this deduction is determined, the Annual General Meeting shall be the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>payment of the mandatory balance, if any, as well as the reversal to the original account of the amount paid in advance.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 33</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The dividend distribution in each year shall not be less than twenty-five percent (25%) of the net income, adjusted pursuant to article 202 of Law 6404 of December 15, 1976, and in compliance with Article 30 hereof.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article 34</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest on shareholders&#8217; equity shall be paid on the dates and at the places indicated by the Executive Officer in charge of the Investor Relations area,&nbsp; in accordance with the terms established by the General Shareholders&#8217; Meeting or the Board of Directors, when applicable. If not claimed within three (3) years as from the beginning of the payment, dividends shall become time-barred in favor of the Company.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Chapter VIII</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>DISSOLUTION AND LIQUIDATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Article</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>35</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company shall be dissolved, liquidated or extinguish in the events established by Law, with due regard for the applicable rules, or as resolved by the General Meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Sole Paragraph &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Meeting that approves the liquidation shall appoint the liquidator and the members of the Fiscal Council that shall function during the liquidation period, establishing their respective fees and the guidelines for its operation.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>ATTACHMENT III - Information on the candidates to be elected at the Annual Shareholders' Meeting</FONT></B></FONT></B></H3>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(Pursuant to items 12.5 and 12.9 of Attachment 24 of CVM Instruction No. 480)</FONT></I></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Pursuant to the provisions of Article 10 of CVM Instruction No. 481/2009, below are the information on the candidates appointed for the election at the Annual Shareholders' Meeting, in accordance with paragraphs 12.5 and 12.10 of the Reference Form, for the applicable items.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">12.5. For each one of the candidates for election at the Annual Shareholders' Meeting, indicate the following in a table:</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Benjamin Steinbruch</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">June 28, 1953</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Administrator</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">618.266.778-87</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 37.55pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">CEO</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 28.3pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 80.5pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 80.5pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">24</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 176.65pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors since April 23, 1993, and, since April 28, 1995, Chairman of the Board of Directors. Also CEO of CSN since April 30, 2002. Member of the Board of Directors of the Portuguese Chamber, 1st Vice-President of FIESP since September 2004, member of the Superior Strategic Council of FIESP, Board Member of the Robert Simonsen Institute and CCI member - Inter Advisory Board of the Court of the State are Paulo. Over the past five years, Chairman of the Board of Directors and Chief Executive Officer of Vicunha Siderurgia S.A. and Chairman of the Board of Directors of Nacional Min&#233;rios S.A., Vice-Chairman of the Board of Directors of Text&#237;lia S.A., Chairman of the Board of Directors of Vicunha A&#231;os S.A., Fibra Cia. </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Securitizadora de Cr&#233;ditos Imobili&#225;rios e Banco Fibra S.A., member of the Board of Directors of Elizabeth S.A. &#8211; Ind&#250;stria T&#234;xtil, Vicunha Participa&#231;&#245;es S.A. and Vicunha Steel S.A., Executive Officer of Rio Purus Participa&#231;&#245;es S.A. and of Rio Iaco Participa&#231;&#245;es S.A. and of BH Holdings S.A. (former Ibis II Empreendimentos Ltda.). Administrator of Fazenda Alvorada de Bragan&#231;a Agro-Pastoril Ltda., Ibis Agr&#225;ria Ltda., Ibis Participa&#231;&#245;es e Servi&#231;os Ltda. and Haras Phillipson Ltda. </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">(all these companies are part of CSN's controlling group), Chairman of the Board of Directors of Transnordestina Log&#237;stica S.A. (jointly controlled by CSN, CSN Minera&#231;&#227;o S.A., FTL &#8211; Ferrovia Transnordestina Log&#237;stica S.A. and Companhia Metal&#250;rgica Prada (controlled by CSN) and Chairman of the Deliberative Board of CSN Foundation. Degree in Business Administration from the Business School of Funda&#231;&#227;o Get&#250;lio Vargas &#8211; SP, Graduate degree in Marketing and Finance from Funda&#231;&#227;o Get&#250;lio Vargas - SP.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Benjamin Steinbruch stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: black 1pt solid; HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">L&#233;o Steinbruch</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">May 16, 1968</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Businessman</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 21.15pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">110.885.048-09</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Vice Chairman of the Board of Directors</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">3</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 65pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Company's board of directors since April 28, 2015, elected vice-chairman of the board of directors on May 11, 2016, and member of the Board of Directors of the companies Elizabeth S.A. Ind&#250;stria T&#234;xtil, Vicunha A&#231;os S.A., Vicunha Participa&#231;&#245;es S.A., Vicunha Steel S.A. and Text&#237;lia S.A. Executive Officer of CFL Participa&#231;&#245;es S.A. and Taquari Participa&#231;&#245;es S.A. and administrator of Fazenda Santa Ot&#237;lia Agropecu&#225;ria Ltda. (all companies part of the CSN's controlling group).</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 59.1pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. L&#233;o Steinbruch stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fernando Perrone</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">May 6, 1947</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Lawyer</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">181.062.347-20</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Audit Committee</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">independent member in accordance with the following criteria: (i) has no relationship with the Company; (ii) is not a controlling shareholder, spouse or second degree relative of the controlling shareholder, and is not tied to a company or entity related to the controlling shareholder; (iii) was not an employee or officer of the Company, of the controlling shareholder or an entity controlled by the Company in the past five (5) years; (iv) is not a direct or indirect supplier or buyer of services and/or products to/of the Company in a magnitude that implies loss of independence; (v) is not an employee or manager of a company or entity offering or demanding services and/or products to/from the Company; (vi) is not a spouse or second degree relative of any manager of the Company; and (vii) does not receive any compensation from the Company in addition to the compensation received as a result of exercising the position of member of the Board of Directors and of member of the Audit Committee of the Company.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">14</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors since September 26, 2002 and member of the Audit Committee since June 24, 2005. Former Executive Officer of Infrastructure and Energy of the Company from July 10 to October 2, 2002. Chairman of the Board of Directors of Profarma - Distribuidora de F&#225;rmacos S.A., member of the Board of Directors of Jo&#227;o Fortes Engenharia S.A., Energia Sustent&#225;vel S.A. and FTL &#8211; Ferrovia Transnordestina Log&#237;stica S.A. (controlled by CSN) and alternate member of the Board of Directors of Transnordestina Log&#237;stica S.A. (jointly controlled by CSN). Also an independent advisor in the area of &#8203;&#8203;infrastructure. Degree in Business Administration, sponsored by "Chimica" Bayer S.A., Degree in Law from Universidade Federal Fluminense and Graduate degree in Economics in the area of &#8203;&#8203;Capital Markets from Funda&#231;&#227;o Get&#250;lio Vargas.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Fernando Perrone stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fabiam Franklin</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">June 28, 1967</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Engineer</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">899.230.907-44</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Employee's representative</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">2</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors since April 28, 2016. Chairman of the CSN Advisory Council Invest Investment Fund Shares since April 4, 2016, member of the Board of Directors of ABM (Brazilian Association of Metallurgy, Materials and Mining) since April 2015, coordinator of CSN's Financial Education Program since 2008, and Blast Furnaces General Manager of the Company since November 2002. Degree in Metallurgical Engineering from Universidade Federal Fluminense, with specialization in Reduction Metallurgy from the MC Master University in Ontario, Canada and graduate degree (MBA) from Funda&#231;&#227;o Dom Cabral and is currently pursuing his professional master's degree in economics from IBMEC.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Fabiam Franklin stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>43</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yoshiaki Nakano</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%"><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">independent member in accordance with the following criteria: (i) has no relationship with the Company; (ii) is not a controlling shareholder, spouse or second degree relative of the controlling shareholder, and is not tied to a company or entity related to the controlling shareholder; (iii) was not an employee or officer of the Company, of the controlling shareholder or an entity controlled by the Company in the past five (5) years; (iv) is not a direct or indirect supplier or buyer of services and/or products to/of the Company in a magnitude that implies loss of independence; (v) is not an employee or manager of a company or entity offering or demanding services and/or products to/from the Company; (vi) is not a spouse or second degree relative of any manager of the Company; and (vii) does not receive any compensation from the Company in addition to the compensation received as a result of exercising the position of member of the Board of Directors and of member of the Audit Committee of the Company.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%" align=left><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors since April 29, 2004 and member of Audit Committee since June 24, 2005. Also acts as a member of the Board of Directors of Transnordestina Log&#237;stica S.A. (jointly controlled by CSN) and in the last five years, acted as a Professor of Economics at the Get&#250;lio Vargas Foundation and Director of the School of Economics at the Get&#250;lio Vargas Foundation in S&#227;o Paulo. He was a member of the Superior Council of Economics (COSEC) of FIESP / IRS and was a member of the Board of Directors of the Foundation for Research Support of the State of S&#227;o Paulo - FAPESP until 2015. Previously, he was Secretary for Economic Affairs of the Ministry of Finance and Secretary of Finance of the State of S&#227;o Paulo. He holds a degree in Business Administration from the Get&#250;lio Vargas Foundation and a Master's and Ph.D. from Cornell University in the United States.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 105%" align=left><FONT style="LINE-HEIGHT: 105%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"> Yoshiaki Nakano</FONT></FONT><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">.stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">July 15, 1959</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Administrator</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">510.578.677-72</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Audit Committee</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 21.85pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">independent member in accordance with the following criteria: (i) has no relationship with the Company; (ii) is not a controlling shareholder, spouse or second degree relative of the controlling shareholder, and is not tied to a company or entity related to the controlling shareholder; (iii) was not an employee or officer of the Company, of the controlling shareholder or an entity controlled by the Company; (iv) is not a direct or indirect supplier or buyer of services and/or products to/of the Company in a magnitude that implies loss of independence; (v) is not an employee or manager of a company or entity offering or demanding services and/or products to/from the Company; (vi) is not a spouse or second degree relative of any manager of the Company; and (vii) does not receive any compensation from the Company in addition to the compensation received as a result of exercising the position of member of the Board of Directors and of member of the Audit Committee of the Company.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">5</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors since April 30, 2013, of the Audit Committee since August 8, 2013, and Chairman of the Audit Committee since May 6, 2014. Also part of the Finance Committee from October 7, 2014 to December 31, 2016. CEO of BRG Capital Ltda. since July 2005 and member of the Board of Directors of Transnordestina Log&#237;stica S.A. (jointly controlled by CSN), of FTL &#8211; Ferrovia Transnordestina Log&#237;stica S.A. and of CSN Minera&#231;&#227;o S.A. (controlled by CSN). Former executive officer of the Credit Suisse / Banco Garantia de Investimentos S.A. from April 1995 to May 2005. Began his career at Citibank Brazil as a trainee in 1982 and moved to New York's Citibank in 1986, where he worked as an Analyst of Citigroup's Institutional investments to Latin America, until he become Executive Officer of New York's Citibank. He was an associate of Banco Bozano Simonsen de Investimentos from August 1979 to December 1981 and member of the Board of Banque B&#233;n&#233;dict Hentsch &amp; Cie SA, Geneva, Switzerland from April to December 2006. Degree in Business and Public Administration from Funda&#231;&#227;o Get&#250;lio Vargas in 1981.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Antonio Bernardo Vieira Maia stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">July 6, 1968</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">088.973.848-38</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yes</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Board of Directors of the companies Vicunha T&#234;xtil S.A., Elisabeth S.A. &#8211; Ind&#250;stria T&#234;xtil, Vicunha Participa&#231;&#245;es S.A., Vicunha Steel S.A. since March 2014. Also managing partner of Arsenal Investimentos since 2002 and responsible for creating the corporate finance area of &#8203;&#8203;the company and for the investments of the Private Equity fund of the company in Brazil (ALL, Coteminas, Dixie Toga, Globex, M&#233;todo Engenharia, Rossi e TAM). Former member of the board of directors of TAM, M&#233;todo Engenharia e Cromex S.A., head of the execution of the &#8203;&#8203;investment banking area at Banco Credit Suisse First Boston Garantia, also working in the banks BNP Paribas and JP Morgan. Bachelor's degree in business administration from Funda&#231;&#227;o Getulio Vargas and graduate degree in management and finance from The Wharton School &#8211; University of Pennsylvania.</FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" color=red face="trebuchet ms,sans-serif"> </FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Jos&#233; Eduardo de Lacerda Soares stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: black 1pt solid; HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Nissim Asslan Kalili</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">September 17, 1953</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Administrator</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 21.15pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=windowtext face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="trebuchet ms,sans-serif">875.186.788-53</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Member of the Board of Directors</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">No</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 80.5pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Candidate appointed by the shareholder "Caixa Beneficente dos Empregados" of Companhia Sider&#250;rgica Nacional &#8211;CBS.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 54.4pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Managing partner of Niss Incorpora&#231;&#245;es e Participa&#231;&#245;es Ltda. since 2007 and former managing partner of Terepinks and Kalili (current Even Construtora e Incorporadora S.A.) from 1985 to 2006. Degree in Business Administration from the Business School of Funda&#231;&#227;o Get&#250;lio Vargas &#8211; SP, Graduate degree in Marketing and Finance from Funda&#231;&#227;o Get&#250;lio Vargas - SP.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Mr. Nissim Asslan Kalili stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Miguel Roberto Gherrize</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">October 2, 1938</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Accountant</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">107140308-72</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Fiscal Council (Sitting)</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 144.35pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">independent member in accordance with the following criteria: (i) has no relationship with the Company; (ii) is not a controlling shareholder, spouse or second degree relative of the controlling shareholder, and is not tied to a company or entity related to the controlling shareholder; (iii) was not an employee or officer of the Company, of the controlling shareholder or an entity controlled by the Company; (iv) is not a direct or indirect supplier or buyer of services and/or products to/of the Company in a magnitude that implies loss of independence; (v) is not an employee or manager of a company or entity offering or demanding services and/or products to/from the Company; (vi) is not a spouse or second degree relative of any manager of the Company; and (vii) does not receive any compensation from the Company.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 73.7pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the IBEF - Brazilian Institute of Finance Executives of S&#227;o Paulo, of IBRACON - Institute of Independent Auditors of Brazil and former member of the Ethics Committee of IFAC - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">International Federation of Accountants of </FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">the CRC - Regional Accounting Council of S&#227;o Paulo. Former member of the Board of Directors of Brasil Insurance Participa&#231;&#245;es e Administra&#231;&#227;o S.A. and of the Fiscal Council of JJBS Foods S.A. (incorporated by Seara Alimentos Ltda., on April 1, 2015). For 10 years, worked as advisor of Terco Grant Thrnton independent auditors, a company acquired by Ernest &amp; Young, having worked until 2012 as the Executive Officer in charge of the Quality Control Group of the audit work. Since 1960 has experience in audit and financial area of Arthur Andersen, having worked as the partner in charge for coordinating and analyzing technical issues in Brazil up to 2000. Degree in Economics from Funda&#231;&#227;o Armando Alvares Penteado (FAAP), extension in Accounting and assimilated in Business Administration.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Miguel Roberto Gherrize stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">name &nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">William Pereira Pinto</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">date of birth</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">March 19, 1959</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">occupation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Accountant</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Individual taxpayer's ID (CPF) or passport number</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">006.521.618-04</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">position to be held&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Member of the Fiscal Council (Alternate)</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">other positions or duties with the issuer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if elected by the controlling shareholder or not</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">No</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">if an independent member and, if so, the criteria used to establish the independence</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="72%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">independent member in accordance with the following criteria: (i) has no relationship with the Company; (ii) is not a controlling shareholder, spouse or second degree relative of the controlling shareholder, and is not tied to a company or entity related to the controlling shareholder; (iii) was not an employee or officer of the Company, of the controlling shareholder or an entity controlled by the Company; (iv) is not a direct or indirect supplier or buyer of services and/or products to/of the Company in a magnitude that implies loss of independence; (v) is not an employee or manager of a company or entity offering or demanding services and/or products to/from the Company; (vi) is not a spouse or second degree relative of any manager of the Company; and (vii) does not receive any compensation from the Company.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">number of consecutive terms of office</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">information on:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. main professional experiences over the last 5 years, indicating:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; company's name and industry&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; position&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">&#8226; if the company is part of (i) the issuer's economic group, or (ii) is controlled by a shareholder of the issuer with direct or indirect interest equal to or greater than 5% of the same class or type of the issuer's securities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. indicate all management positions it holds in other companies or third sector organizations </FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Currently member of the Board of Directors of Portocred S.A., member of the Audit Committee of Banco Pine S.A., partner and owner of WWPC Consultoria Empresarial Ltda., working in the area of &#8203;&#8203;corporate governance and in the risk and audit committees. Member of the Fiscal Council of Renuka do Brasil S.A., alternate member of the Board of Directors of Grupo P&#227;o A&#231;&#250;car, Via Varejo and Kroton Educacional. Worked at Ernest&amp;Young Terco from 2008 to 2012, having worked since 2011 as the Executive Officer in charge for the external audit of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">middle market</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">private equities</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"> companies. Degree in Accounting from Universidade S&#227;o Judas Tadeu, an MBA &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Controller</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"> from FIPECAPI/USP with module abroad at St. John's University/NY, United States and certification from IBGC as Fiscal Advisor.</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #f2f2f2; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">description of any of the following events that have occurred during the last 5 years:</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">i. any criminal conviction&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">ii. any conviction in CVM's administrative proceedings and the penalties applied&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">iii. any final conviction not subject to further appeal, in the judicial or administrative sphere, which has suspended or disqualified for the practice of a professional or commercial activity</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: black 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%" colSpan=2>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. William Pereira Pinto stated, for all legal purposes, that, in the last five (5) years, has not been subject to the effects of any criminal conviction, any conviction or penalty in administrative lawsuits of CVM nor any final judicial or administrative conviction, which resulted in the suspension or disqualification for the practice of any professional or commercial activity.</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>48</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">12.6. Regarding each one of the persons who occupied the position of member of the board of directors or the fiscal council in the last year, report, in a table, the attendance percentage in the meetings held by the respective body in the same period, which occurred after taking office:</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Members of the Board of Directors</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Participation in meetings</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Benjamin Steinbruch</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">95%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 24.55pt">

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">L&#233;o Steinbruch</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">90%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 24.55pt">

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Antonio Bernardo Vieira Maia</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">95%</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fernando Perrone</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">95%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 24.55pt">

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yoshiaki Nakano</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">95%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 24.55pt">

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fabiam Franklin</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">100%</FONT></FONT></P></TD></TR></TABLE></DIV>

<a name="_bclFooter49"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>49</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">12.7. Provide the information mentioned in item 12.5 concerning the members of the statutory committees, as well as audit, risk, financial and compensation committees, even if such committees or structures are not statutory:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">The Company has an Audit Committee, whose members are listed below:</FONT></FONT></P>

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<TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Members of the Audit Committee</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Name</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Antonio Bernardo Vieira Maia</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="26%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fernando Perrone</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yoshiaki Nakano</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Information</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">See information regarding the Board of Directors</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">See information regarding the Board of Directors</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">See information regarding the Board of Directors</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">12.8. For each one of the people who worked as members of the statutory committees, as well as in the audit, risk, financial and compensation committees, even if such committees or structures are not statutory:</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Members of the Audit Committee</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Name</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Participation in meetings</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Antonio Bernardo Vieira Maia</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">100%</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Fernando Perrone</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">100%</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="51%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Yoshiaki Nakano</FONT></FONT></P></TD>

   <TD style="HEIGHT: 24.55pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">75%</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">12.9. Marital relationships, stable unions or kinship up to the second degree between:</FONT></B></FONT></P>

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<TR style="HEIGHT: 11pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">a) the Company's management</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 11pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">b) the Company's management and the management of subsidiaries, direct or indirect, of the Company</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 19.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">c) the Company's management or of its subsidiaries, direct or indirect, and direct or indirect controlling shareholders of the Company:</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">d) the Company's management and the management of controlling subsidiaries, direct or indirect, of the Company</FONT></FONT></P></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">12.10. Inform the relationships of subordination, of service rendering or control maintained in the past 3 fiscal years between the issuer's managers and:</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">a) company controlled, directly or indirectly, by the issuer, except those in which the issuer holds, directly or indirectly, all of the share capital</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 19.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Not applicable</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">b) direct or indirect controlling shareholder of the Company</FONT></FONT></P></TD></TR>

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   <TD style="HEIGHT: 19.45pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">Mr. Leo Steinbruch is a shareholder of CFL Participa&#231;&#245;es S.A. e da Vicunha T&#234;xtil S.A., both directly controlled by the Company.</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">c) if relevant, supplier, client, debtor or creditor of the issuer, its controlling or subsidiaries or subsidiaries of any of these people</FONT></FONT></P></TD></TR>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>50</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>ATTACHMENT IV - Information on the compensation of the Management</FONT></B></FONT></B></H3>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Base Date: December 31, 2016</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(Pursuant to Item 13 of Attachment 24 of CVM Instruction No. 480, of December 7, 2009)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.1 Policy or practice of compensation for the board of directors, statutory and non-statutory board, fiscal council, statutory committees and audit, risk, finance and compensation committees, concerning the following aspects:</FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>a. goals of the policy or practice of compensation:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company's practice is the compatibility of the compensation offered with the responsibility exercised by the office, considering that the Board of Directors establishes and guides the Company by monitoring its implementation by company's executives.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company's practice is to ensure a competitive compensation in relation to senior executives&#8217; market, being compatible with the responsibility exercised by the office, considering its responsibility and commitment to meet the strategic goals of the Company, within the increasingly competitive and globalized scenario in which it operates.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Non-Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company's compensation practice is to provide an internal (between members of the executive body) and external (competitively in relation to the market) balance, in order to attract, retain and motivate its executives, so that the Company may meet its strategic goals in the increasingly competitive and globalized scenario in which it operates.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Audit Committee:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company&#8217;s is the compatibility of the compensation offered with the responsibility exercised by the office, considering that the members of the Audit Committee work to ensure the transparency of the information and the accountability of the management. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>b. compensation composition, indicating:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(i) description of elements of the compensation and the goals of each one of them;</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The members of the Board of Directors are entitled only to a fixed compensation only, that is, monthly fees established at a meeting of the Board of Directors, in order to ensure the compatibility of the duties with the compensation paid. All members receive the same amount, except those that are part of the Audit Committee, which receive a different amount due to occupying two positions.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Members of the Statutory Board are entitled to an annual overall compensation consisting of a fixed compensation (monthly fees) and a variable compensation (bonuses based on goals and other bonuses*) in order to ensure the compatibility of the duties with the compensation paid.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>51</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>* Other Bonus: The Company may eventually assign an extra compensation structured as variable, due to the recognition of specific, different jobs, projects or goals, and linked to such projects. This additional variable compensation is usually tied to the nominal fee or another form of compensation compatible with the expected result of the corresponding project and the goals assigned to the Statutory Executive Officer.</FONT></FONT><FONT style="LINE-HEIGHT: 115%" color=red><STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=Calibri,sans-serif> </FONT></STRIKE></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>They are also entitled to the following benefits: Health Insurance, Dental Insurance, Life Insurance, Pension Plan and Yearly </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Check Up</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>. The CEO is entitled to a helicopter and two armored vehicles.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Non-Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Members of the Non-Statutory Board are entitled to fixed and variable compensation. The fixed compensation is composed of a nominal monthly salary</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>, </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>plus vacation and thirteenth salary, as provided for by the labor legislation, in order to ensure the compatibility of the duties with the compensation paid. The variable compensation offers the opportunity for gain in addition to the nominal salary as a result of the company's results and of a specific area of the executive, as well as due to their individual performance or attraction and retention strategy. The variable component is paid annually as profit sharing, in order to ensure the compatibility of the duties with the compensation paid.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>They are also entitled to the following benefits: Health Insurance, Dental Insurance, Life Insurance, Pension Plan, Food Bonus, Meal Bonus, Annual </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Check Up</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> and volunteer vacation Bonus.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Audit Committee:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The members of the Audit Committee are entitled only to a fixed compensation only, that is, monthly fees established at a meeting of the Board of Directors, in order to ensure the compatibility of the duties with the compensation paid. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(ii) the proportion of each element of the total compensation</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>For the Board of Directors and the Audit Committee, the proportion of the fixed compensation is of 100% of the total compensation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>For the Executive Board and the Non-Statutory Board, the overall fixed compensation represents 100% of the total compensation and, for some cases, may be comprised of 50% fixed and 50% variable compensation, or other ratio that best suits the duties performed by the executive and the conditions negotiated with him/her by the Company. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(iii) method of calculation and adjustment of each compensation element;</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The fixed compensation of the Board of Directors is paid in 12 monthly installments, without a prior definition of readjustment.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The fixed component of the annual compensation is paid in 12 monthly installments, in addition to the possibility of a variable installment mentioned above. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The variable compensation is paid in the calendar year, in a specific month, differently established in the agreement of each Executive Officer, with greater concentration in April of each year after the assessment of the goals.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>52</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The overall compensation (fees + variable) established at the beginning of the term of office is valid for two years and may be re-negotiated in the agreement's renewal, if it is of interest to both parties.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Non-Statutory Board:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The fixed compensation of the Non-Statutory Board is paid annually in thirteen monthly installments. Is also paid an additional of 33.33% on the nominal salary concerning a bonus for statutory vacations, and an additional of 36.67% on the nominal salary as bonus for volunteer vacation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The adjustment of the compensation is established based on the variation of the Executive Market's growth or through the inflation of the last 12 months. The adjustment is applied annually. The variable compensation is paid in April of each year, after the assessment of the goals, the executive may realize up to 12 nominal wages.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Audit Committee:</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The fixed compensation of the Audit Committee is paid in 12 monthly installments and without a prior definition of readjustment.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;</FONT></I><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(iv) reasons that justify the composition of the compensation</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>BOARD OF DIRECTORS: fixed compensation based on the market practice.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>STATUTORY BOARD: fixed compensation based on market practices, variable compensation linked to the results of the goals of the company, business, individual and skills evaluation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>NON-STATUTORY BOARD: fixed compensation based on market practice, variable compensation linked to the results of business goals, business, and individual skills assessment.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>AUDIT COMMITTEE: fixed compensation based on the market practice.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;(v) the existence of members unpaid by the issuer and the reason for this fact</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>c. main performance indicators taken into account when determining each element of the compensation:</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fixed compensation: responsibilities assigned to the position through the evaluation based on a specific methodology carried out by an external advisor specialized on compensation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Variable compensation: considers the results of the goals of the company, business and/or area under the responsibility of the Statutory or Non-Statutory Officer and also the individual goals and skills evaluation of each Statutory or Non-Statutory Officer. It can also be paid, when appropriate, an additional variable installment due to the recognition of a specific work, project or differentiated goals.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>d. how the compensation is structured to reflect the evolution of the performance indicators</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>At the beginning of each year, they overall goals of the Company are established. Then, these goals are split, as applicable, between the Company's different operational areas, for each Statutory or Non-Statutory Officer to establish the specific goals that each of the different operating areas must meet. In addition, the individual goals to be achieved during the same fiscal year are also established. The compliance with these goals is periodically monitored during the year and finally assessed at the end of the fiscal year, with this outcome being the basis for calculating the variable compensation, considering the level of compliance with </FONT></FONT>


<FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>each indicator. The maximum variable compensation is established based on the nominal wages units received by the Statutory or Non-Statutory Officer, so that he/she will ultimately be paid the variable compensation amount assigned to that level of compliance with the goals verified, pursuant to the scale agreed with the Statutory or Non-Statutory Officer.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>53</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>It is worth noting also that all the goals set for each Statutory or Non-Statutory Officer will have a relative weight in the evaluation of compliance with the goals mentioned above. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>e. how does the policy or practice of compensation aligns with the short, medium and long term interests of the Company:</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The compensation practice aligns to the short, medium and long term interests of the company through the Strategy Management Cycle in which takes place the development of the goals established through the strategic plan, budgeting, performance monitoring and results evaluation, establishing the compensation according to the performance. This practice is supported by the following points:</FONT></FONT></P>

<UL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=disc>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Focusing on strategic goals, representing shares that have a significant impact on the continuous improvement of company's performance.</FONT></FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Measuring and evaluating the outcomes of the organization's goals, established in its budget and their variation, which must reach or not these goals.</FONT></FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Establishing from the development of the company's goals.</FONT></FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Clear description, previously defined formulas and sources, being easy to understand and assess.</FONT></FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Comparing the best practices and the standardization of the evaluation.</FONT></FONT> </LI></UL>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>These elements focus on the excellence of the company's outcomes.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 9.65pt 10pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>f. existence of compensation supported by subsidiaries, controlled or direct or indirect controllers</FONT></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>No compensation received by the Management due to the position they hold in the Company that is supported by subsidiaries, controlled or direct or indirect controllers of the Company.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>g. existence of any compensation or benefit linked to the occurrence of certain corporate event, such as the sale of the Company's control:</FONT></I></B></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 9.65pt 10pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>There is no compensation or benefit linked to the occurrence of any corporate event. </FONT></FONT></P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>54</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.2 Total compensation of the board of directors, executive board and fiscal council</FONT></I></B></FONT></FONT></B></P>

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<TR style="HEIGHT: 30pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation for the Fiscal Year ended on December 31, 2014 - Annual Amounts</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>No<SUP> </SUP>of Members&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.92</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>4.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>11.59</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Paid Members</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.92</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>4.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>11.59</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fixed Annual Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,606,080</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$9,447,575</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$11,053,655</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Salary or "Pro-Labore"</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$978,400</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$5,956,969</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$6,935,369</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Direct and Indirect Benefits</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,299,311</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,299,311</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Committees</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$267,680</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,191,294</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,458,974</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Variable Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$23,807,218</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$23,807,218</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$19,939,348</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$19,939,348</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit Sharing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Meetings</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Commissions</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$3,867,870</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$3,867,870</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Post-employment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$115,763</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$115,763</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Termination of the Position</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Based on Shares</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,606,080</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$33,370,555</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$34,976,635</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#185;The number of members of each body corresponds to the annual average of the number of members of each body calculated monthly with 2 decimals, as provided for in item "9.2.13.b". Compensation of the management (section 13)" of the OFFICIAL LETTER/CVM/SEP/No.01/2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Board of Directors in 2014: 83/12 months = 7 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Statutory Board 2014: 56/12 months = 5 members</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>55</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

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<TR style="HEIGHT: 30pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation for the Fiscal Year ended on December 31, 2015 - Annual Amounts</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>No<SUP> </SUP>of Members&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.17</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>12.83</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Paid Members</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.17</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>12.83</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fixed Annual Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,585,440</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$14,004,454</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$15,589,894</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Salary or "Pro-Labore"</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$961,200</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$9,759,385</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$10,720,585</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Direct and Indirect Benefits</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,293,192</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,293,192</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Committees</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$264,240</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,951,877</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,216,117</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Variable Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$31,987,610</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$31,987,610</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$26,656,342</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$26,656,342</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit Sharing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Meetings</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Commissions</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$5,331,268</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$5,331,268</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Post-employment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$310,625</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$310,625</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Termination of the Position</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Based on Shares</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,585,440</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$46,302,689</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$47,888,129</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#185;The number of members of each body corresponds to the annual average of the number of members of each body calculated monthly with 2 decimals, as provided for in item "9.2.13.b". Compensation of the management (section 13)" of the OFFICIAL LETTER/CVM/SEP/No.01/2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Board of Directors 2015: 80/12 months = 6.67 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Statutory Board 2015: 74/12 months = 6.17 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>56</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

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<TR style="HEIGHT: 30pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation for the Fiscal Year ended on December 31, 2016 - Annual Amounts</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>No<SUP> </SUP>of Members&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.42</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>5.83</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>12.25</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Paid Members</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>6.42</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>5.83</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>12.25</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fixed Annual Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,527,840</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$18,157,715</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$19,685,555</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Salary or "Pro-Labore"</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$913,200</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$13,081,307</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$13,994,507</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Direct and Indirect Benefits</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,460,147</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,460,147</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Committees</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$360,000</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$254,640</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,616,261</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,870,901</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Variable Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$52,166,513</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$52,166,513</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$43,472,094</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$43,472,094</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit Sharing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Participation in Meetings</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Commissions</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$8,694,419</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$8,694,419</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Post-employment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$305,747</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$305,747</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Termination of the Position</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Based on Shares</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,527,840</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$70,629,975</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$72,157,815</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#185;The number of members of each body corresponds to the annual average of the number of members of each body calculated monthly with 2 decimals, as provided for in item "9.2.13.b". Compensation of the management (section 13)" of the OFFICIAL LETTER/CVM/SEP/No.01/2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Board of Directors 2016: 77/12 months = 6.42 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Number of members of the Statutory Board 2016: 70/12 months = 5.83 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>57</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<TR style="HEIGHT: 30pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total Compensation Expected for the Fiscal Year ended on December 31, 2017 - Annual Amounts</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>No<SUP> </SUP>of Members&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>9.33</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>9.00</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>18.33</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Number of Paid Members</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>9.33</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>9.00</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>18.33</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Fixed Annual Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>3,067,200</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>28,280,206</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$31,347,406</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Salary or "Pro-Labore"</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>2,016,000</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>21,391,434</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$23,407,434</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Direct and Indirect Benefits</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>2,610,486</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$2,610,486</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Participation in Committees</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>540,000</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$540,000</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>511,200</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>4,278,287</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$4,789,487</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Variable Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>44,337,637</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$44,337,637</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Bonus</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>36,948,031</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$36,948,031</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Profit Sharing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Participation in Meetings</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Commissions</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Other</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>7,389,606</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$7,389,606</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Post-employment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>722,866</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$722,866</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Termination of the Position</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Based on Shares</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Total Compensation</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$3,067,200</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$73,340,710</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$76,407,910</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#185;The number of members of each body corresponds to the annual average of the number of members of each body calculated monthly with 2 decimals, as provided for in item "9.2.13.b". Compensation of the management (section 13)" of the OFFICIAL LETTER/CVM/SEP/No.02/2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Number of members of the Board of Directors in 2017: 112/12 months = 9.33 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Number of members of the Statutory Board 2017: 108/12 months = 9 members</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>58</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.3 Regarding the variable compensation of the last 3 fiscal years the one expected for the current fiscal year of the board of directors, statutory board and finance committee: </FONT></I></B></FONT></FONT></B></P>

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<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 24.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Variable compensation - fiscal year ended on December 31, 2014</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 24.05pt">

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Members</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>4.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>4.67</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan&#178;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$18,201,207</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$18,201,207</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$18,201,207</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$18,201,207</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,939,348</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,939,348</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit sharing</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 24.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Variable compensation - fiscal year ended on December 31, 2015</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 24.05pt">

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Members</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>6.17</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>6.17</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan&#178;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,841,154</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,841,154</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,841,154</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$19,841,154</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$26,656,342</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$26,656,342</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit sharing</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>59</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader60"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 24.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Variable compensation - fiscal year ended on December 31, 2016</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 24.05pt">

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Number of Members</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>5.83</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>5.83</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Bonus</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan&#178;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$53,800,217</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$53,800,217</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$53,800,217</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$53,800,217</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$43,472,094</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$43,472,094</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Profit sharing</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals were achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Amount effectively recognized in the income for the fiscal year</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 24.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Variable compensation expected for the fiscal year (2017)</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Fiscal Council</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 24.05pt">

   <TD style="HEIGHT: 24.05pt" height=32>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Number of Members</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>9.00</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>9.00</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Bonus</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan&#178;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>RS 0</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan&#185;</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$50,995,395</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$50,995,395</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals are achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$36,948,031</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>R$36,948,031</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Profit sharing</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Minimum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Maximum amount foreseen in the compensation plan</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Value foreseen in the compensation plan, if the established goals are achieved</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" height=17>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>60</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_61"></A>

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<a name="_bclHeader61"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#185;The maximum amount foreseen for the variable compensation takes into account surpassing the outcome of all goals of the company, business, individual and skills evaluation. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&#178;There is no minimum amount guaranteed. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.4 Concerning the compensation plan based on shares of the board of directors and the statutory board, effective in the last fiscal year and forecasted for the current fiscal year:</FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.5 Concerning the compensation based on shares recognized in the last 3 fiscal years and the forecast for the current fiscal year, the board of directors and the statutory board: </FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.6 Information concerning the outstanding options of the board of directors and of the statutory board at the end of the last fiscal year</FONT></I></B></FONT></FONT></B><B><FONT style="FONT-VARIANT: small-caps"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>: </FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.7 Concerning the options exercised and the shares delivered for the compensation based on shares of the board of directors and the statutory board in the last 3 fiscal years, prepare a table with the following content: </FONT></I></B></FONT></FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.8 Information required for the understanding of the data disclosed in items 13.5 to 13.7 (including the pricing method of the number of shares and options)</FONT></I></B></FONT></FONT></B><B><FONT style="FONT-VARIANT: small-caps"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>: </FONT></B></FONT></FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None.</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.9 The shares or quotas directly or indirectly held in Brazil or abroad, and other securities convertible into shares or quotas issued by the Company, its direct or indirect controlling shareholders, subsidiaries or companies under common control, by members of the board of directors, executive board or fiscal council, grouped by body, on the closing date of the last fiscal year: </FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="BACKGROUND: lime; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>61</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>COMPANY</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%" colSpan=4>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>Dec 31, 2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="40%" colSpan=2>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>Board of Directors</FONT></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=#000000 face=Calibri,sans-serif>Executive Board</FONT></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=#000000 face=Calibri,sans-serif>Fiscal Council </FONT></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=#000000 face=Calibri,sans-serif>Total</FONT></P></TD></TR>

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   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>Company</FONT></P></TD>

   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>Type</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>Common Shares&nbsp;</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>1,526</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>89,000</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" color=black face=Calibri,sans-serif>90,526</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="BACKGROUND: lime; LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="BACKGROUND: lime; LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>CONTROLLING SHAREHOLDERS</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="59%" colSpan=4>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Dec 31, 2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="41%" colSpan=2>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Executive Board</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="24%">

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   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Category</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>CFL Participa&#231;&#245;es S.A.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>Common Shares</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>327,338,304</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="trebuchet ms,sans-serif">0</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>0</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>327,338,304</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>Rio Purus Participa&#231;&#245;es S.A.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>Common Shares</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1,000</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1,000</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>0</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1,000</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="BACKGROUND: lime; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 27.1pt">

   <TD style="HEIGHT: 27.1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="40%" colSpan=2>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>SUBSIDIARIES</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 27.1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="60%" colSpan=4>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Dec 31, 2016</FONT></B></P></TD></TR>

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   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Executive Board</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council</FONT></B></P></TD>

   <TD style="HEIGHT: 9.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.3pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Company</FONT></B></P></TD>

   <TD style="HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Category</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>CSN Gest&#227;o de Recursos Financeiros Ltda.</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>Quotas of the share capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>0</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Calibri,sans-serif>1</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="BACKGROUND: lime; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.10 Information on pension plans in force for the members of the Board of Directors and Statutory Officers</FONT></I></B></FONT></FONT></B><B><FONT style="FONT-VARIANT: small-caps"><FONT style="LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>:</FONT></I></B></FONT></FONT></B><B><FONT style="FONT-VARIANT: small-caps"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>&nbsp; </FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>The Company sponsors for the Statutory Officers the pension plan of entity CBS Previd&#234;ncia - "Caixa Beneficente dos Empregados" of Companhia Sider&#250;rgica Nacional, in which the participants can contribute 3% to 6% of the nominal salary/fees and the sponsor adds 100% to the participant's amount.</FONT></FONT></P>

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<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="62%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 10pt" face=Calibri,sans-serif>CBS Previd&#234;ncia &#8211; "Caixa Beneficente dos Empregados" of Companhia Sider&#250;rgica Nacional</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 16.75pt">

   <TD style="HEIGHT: 16.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT></P></TD>

   <TD style="HEIGHT: 16.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 16.75pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 18.75pt">

   <TD style="HEIGHT: 18.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Calibri,sans-serif>Number of members <SUP>(&#185;)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-WEIGHT: normal" face=calibri,sans-serif>3</FONT></P></TD></TR>

<TR style="HEIGHT: 17.25pt">

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Calibri,sans-serif>Name of the plan <SUP>(2)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Joint Plan of Supplementary Benefit and CBSPREV Benefit Plan</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17.25pt">

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Number of managers who are eligible to retire</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-WEIGHT: normal" face=calibri,sans-serif>2</FONT></P></TD></TR>

<TR style="HEIGHT: 19.5pt">

   <TD style="HEIGHT: 19.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Conditions for early retirement</FONT></FONT></P></TD>

   <TD style="HEIGHT: 19.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 19.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(3)</FONT></FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 36.75pt">

   <TD style="HEIGHT: 36.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Updated cumulative amount of accumulated contributions to the close of the last fiscal year, discounting the instalment concerning the contributions made directly by the administrators</FONT></FONT></P></TD>

   <TD style="HEIGHT: 36.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 36.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$1,365,185.52</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 40.5pt">

   <TD style="HEIGHT: 40.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total cumulative amount of the accumulated contributions made during the last fiscal year, discounting the instalment concerning the contributions made directly by the administrators</FONT></FONT></P></TD>

   <TD style="HEIGHT: 40.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 40.5pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$200,568.48</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 21.75pt">

   <TD style="HEIGHT: 21.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Possibility of early redemption and conditions</FONT></FONT></P></TD>

   <TD style="HEIGHT: 21.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="HEIGHT: 21.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Yes, the only condition is no long being connected to the Sponsor and not be receiving the benefits on CBS</FONT></FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>62</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<a name="_bclHeader63"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

<DIV align=center></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(1)</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> Statutory Officer on December 31, 2016</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(2)</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> The Joint Plan of Supplementary Benefit is structured according to the type of Variable Contribution, while the CBSPREV Plan is structured according to the type of pure Defined Contribution (no actuarial risk components). </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(3)</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif> Early retirement: The benefit of early retirement will be awarded to the participant upon request and will be paid in monthly installments, subject to the conditions provided in the plan's regulation, which is available on the company's Intranet, as well as approved by PREVIC and published in the Official Gazette, with its initial amount established in accordance with the choice of the payment method.</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.11 - Maximum, minimum and average individual compensation of board of directors, statutory board and fiscal council: </FONT></I></B></FONT></FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><I><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Reasoning for not completing the table:</FONT></U></I></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Information not disclosed, pursuant to the ruling rendered by the MM Judge of the 5th Federal Court/RJ, in the case file 2010.5101002888-5 in favor of IBEF - Rio de Janeiro, institute to which the Company is associated.</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13:12 Contractual arrangements, insurance policies or other instruments that structure mechanisms of compensation or indemnifications for managers in case of removal from office or retirement (including financial consequences for the Company): </FONT></I></B></FONT></FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None. </FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>63</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>13.13 Percentage of the total compensation of each body recognized in the income of the Company concerning the members of the board of directors, statutory board or fiscal council that are related parties to the direct or indirect controlling shareholders, pursuant to the accounting rules that address this issue:</FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="85%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>2014</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 26.25pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 26.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Percentage</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>10.76%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>74.01%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="85%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>2015</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 26.25pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 26.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Percentage</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>10.90%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>56.89%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="85%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>2016</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: silver; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=#000000><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 26.25pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 26.25pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>Percentage</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Calibri,sans-serif>11.31%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>74.72%</FONT></FONT></P></TD>

   <TD style="HEIGHT: 26.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13:14 Amounts recognized in the Company's income as compensation for the members of the board of directors, executive board or fiscal council, grouped by body, for any reason other than the position they hold, such as commissions and consulting or advisory services rendered:</FONT></I></B></FONT></FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>None. </FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>13.15 Amounts recognized in the income of the direct or indirect controlling shareholders of companies under common control and the subsidiaries of the Company, as compensation for the members of the board of directors, the executive board or the fiscal council, grouped by body, specifying why these amounts &#8203;&#8203;have been assigned to these individuals: </FONT></I></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>2015 fiscal year - compensation received due to the exercise of the position on the issuer</FONT></I></B></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>64</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

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<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 9.3pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Direct and indirect controlling shareholders</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Controlled by the issuer</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$14,652.00</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$14,652.00</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Companies under common control</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></I></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>2015 fiscal year - other compensation received, specifying the reason they were assigned</FONT></I></B></FONT></P>

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<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 9.3pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Direct and indirect controlling shareholders</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Controlled by the issuer</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Companies under common control</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>2016 fiscal year - compensation received due to the exercise of the position on the issuer</FONT></I></B></FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 9.3pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Direct and indirect controlling shareholders</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Controlled by the issuer</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$13,712.00</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>R$13,712.00</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Companies under common control</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></I></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>2016 fiscal year - other compensation received, specifying the reason they were assigned</FONT></I></B></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>65</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader66"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=right><FONT></FONT></P></DIV>

<DIV align=center>

<TABLE style="WIDTH: 99%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 9.3pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Board of Directors</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Statutory Board</FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Fiscal Council </FONT></B></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: silver; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Total</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Direct and indirect controlling shareholders</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Controlled by the issuer</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=top width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>Companies under common control</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>N/A</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif></FONT></I></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps"><FONT style="FONT-VARIANT: normal; LINE-HEIGHT: 115%"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" face=Calibri,sans-serif>13.16 Other relevant information</FONT></I></B></FONT></FONT></B></P>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif>ATTACHMENT V - Sample of the Remote Voting Form</FONT></B></FONT></B><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.25pt" color=#17365d face=calibri,sans-serif> </FONT></B></FONT></B></H3>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>(Pursuant to Attachment 21-F of CVM Instruction No. 481/09)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" color=#1f497d face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>REMOTE VOTING FORM</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-TRANSFORM: uppercase; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif> </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-TRANSFORM: uppercase; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Annual and Extraordinary Shareholders' Meeting </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>HELD ON APRIL 28, 2017</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Name of the Shareholder</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Individual or Corporate Taxpayer's ID (CPF or CNPJ) of the Shareholder</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>E-mail address to forward a confirmation of receipt of the form by the Company to the shareholder</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 0.6in; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Instructions to complete the form</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>This Remote Voting Form (&#8220;Form&#8221;) must be completed if the shareholder wishes to exercise its remote voting right at the Annual and Extraordinary Shareholders' Meeting of Companhia Sider&#250;rgica Nacional (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>CSN</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>&#8221; or &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Company</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>&#8221;), convened for April 28, 2017, at 11 a.m. (&#8220;AESM&#8221;) pursuant to CVM Instruction No. 481/2009 (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>CVMI 481</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>&#8221;), as amended. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>The shareholder must complete all the fields in the Form, indicating its full name (or corporate name, if a legal entity), with the number of the Individual or Corporate Taxpayer's ID, as applicable, in addition to an email address for any contact.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>For this Form to be considered valid and for the votes in it to be cast in the Company's AESM, the following instructions should be observed:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>All fields must be duly, legibly completed;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>All the pages must be initialed by the shareholder; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>(iii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>At the end, the shareholder (or its legal representative, as applicable) must sign the form and notarize it.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>The Form will be disregarded if it is sent directly to the Company without any of the formalities or documents requested. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>If the Form is partially or incorrectly completed, the Company will compute only the items that have been correctly completed or rectified in a timely manner, specifically rejecting the items presenting completing problems. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>The Forms will be accepted by the Company until April 21, 2017 (including this date).</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>67</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Guidance to forward the Remote Voting Form</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Shareholders who choose to exercise their remote voting right may: (i) complete this form and send it directly to the Company at the address in item 5 below, together with the supporting documentation required by the Company; or (ii) transmit their voting instructions to the qualified service providers (in accordance with Article 21b, item II, of CVMI 481), who will forward the voting statements to the Central Depositary of BM&amp;FBOVESPA.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>If the shareholder chooses for sending the Form directly to the Company, it must submit the following documents to the Company's headquarters, to the </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Investor Relations Executive Officer</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.75in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>a)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Physical copy of the Form duly completed, initialed and notarized; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.75in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Certified copies of the identification and representation documents, as shown below:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif"></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Individuals</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Legal entity</FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="20.99%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Investment Fund</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Identity card with photo of the shareholder/legal representative.<SUP>1</SUP></FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="20.99%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 5.4pt" width="39%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Bylaws or Articles of Incorporation consolidated and updated<SUP>2</SUP></FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="20.99%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 5.4pt" width="39%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Document proving the powers of attorney<SUP>2</SUP></FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="20.99%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 5.4pt" width="39%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face="trebuchet ms,sans-serif"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">Consolidated and updated regulation<SUP>2</SUP></FONT></B></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">N/A</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="20.99%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face="trebuchet ms,sans-serif"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" face="trebuchet ms,sans-serif">X</FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid" width="100%" colSpan=4>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Shareholder who choose to exercise its remote voting right through the service providers, must transmit their voting instructions to their custodians or registrar agent of the Company's shares, provided that the rules established by them are observed. For this, the shareholders must contact their custody or registrar agents, as stated in item "6", and see what procedures were established by them for the transmission of remote voting instructions. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>For shareholders who are an individual or legal entity domiciled abroad, all documents submitted must be translated and legalized by the Brazilian Consulate of their home country or filed at the authorized notary registry with the due Haya Note, so that all copies are certified and all the signatures are notarized.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Postal and e-mail address to send the Form, if the shareholder wishes to deliver the document directly to the Company's headquarter</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Companhia Sider&#250;rgica Nacional</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Attn. Investor Relations Officer </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Avenida Brigadeiro Faria Lima, n&#186; 3.400, 20&#186; andar, Itaim Bibi</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>S&#227;o Paulo/SP</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>CEP 04538-132</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Email: </FONT><FONT lang=PT-BR style="FONT-SIZE: 11pt; BACKGROUND: #f8f8f8; TEXT-AUTOSPACE: ideograph-numeric" color=#1d5291 face=Calibri,sans-serif>invrel@csn.com.br</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Phone: (55) (11) 3079-7593</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif><FONT style="FONT-SIZE: 8pt" face=Calibri><SUP>1</SUP> </FONT>Identity documents: RG (ID), RNE (Foreign ID), CNH (Driver's License), Passport and professional identity cards.</FONT></FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif><SUP>2</SUP> In the case of investment funds, the voting policy of the fund should be complied with.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>68</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid" width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Indication of the institution hired by the Company to provide the registrar service of securities. </FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Ita&#250; Corretora de Valores S.A.</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 39.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Avenida Brigadeiro Faria Lima, 3.500, 3&#186; andar &#8211; S&#227;o Paulo CEP 04538-132 </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>3003-9285 (capital and metropolitan areas) </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>0800 7209285 (other locations) </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>The service hours are on weekdays from 9 am to 6 pm. </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>E-mail: atendimentoescrituracao@itau-unibanco.com.br </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Resolutions / Matters related to the Annual and Extraordinary Shareholders' Meeting</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve the amendment and consolidation of the Bylaws, pursuant to Attachment 1 of the Management's Proposal.</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=2>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Establish that the Board of Directors of the Company will have seven (7) members, among which one (1) will be the representative of the Company's employees, pursuant to Article 14 of the Company's Bylaws, in accordance with the Management's Proposal.</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=3>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Do you want to request the adoption of the multiple voting process for the election of the Board of Directors, pursuant to Article 162 of Law No. 6404, of 1976?</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 28.35pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Yes [ ] No [ ] </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=4>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Election of the Board of Directors by a single coalition, according to the Management's Proposal.</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>5.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>If one of the candidates that make up the coalition is no longer part of it, the votes corresponding to your shares may continue to be cast on the chosen coalition?</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.55pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Yes [ ] No [ ] </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>6.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>In case of adoption of the multiple voting election process, the votes corresponding to your shares must be distributed, in the following percentages, to the members you chose?</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>7.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Visualization of all the candidates that compose the coalition to indicate the % (percentage) of the votes to be awarded</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Benjamin Steinbruch: [ ] %</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>L&#233;o Steinbruch: [ ] % </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Yoshiaki Nakano: [ ] %</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Fernando Perrone: [ ] %</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Antonio Bernardo Vieira Maia: [ ] %</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Jos&#233; Eduardo de Lacerda: [ ] %</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>69</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 15.65pt; LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>8.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Separate election of member of the board of directors</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 15.65pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Indication of candidates for the Board of Directors (the shareholder must complete this field if he leaves the general election field blank and holds the shares with which he votes during the 03 (three) months immediately prior to the AGOE.)If you voted for the names appointed in the coalition proposed by the Management, the vote on this item has no effect.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 15.65pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Nissim Kalili</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 28.35pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 28.35pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>9.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>If it is known that neither the holders of voting shares nor the holders of preferred shares without voting or restricted voting rights have, respectively, reached the quorum required in items I and II of paragraph 4 of art. 141 of Law No. 6,404 of 1976, would you prefer that your&nbsp; vote is included to the votes of the preferred shares in order to elect for the board of directors the candidate with the highest number of votes among all of those that, as part of this Internet voting, to stand for separate election?</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>[not applicable]</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=10>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Establish the Management's overall annual compensation for the year of 2017, pursuant to the Management's Proposal.</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 0.5in; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=11>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Do you wish to request the installation of the Fiscal Council, pursuant to Article 161 of Law 6.404 of 1976?</FONT> </LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 28.35pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Yes [ ] No [ ] </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="100%">

   <OL style="MARGIN-BOTTOM: 0in; MARGIN-TOP: 0in" type=1 start=12>

   <LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Separate election of the Fiscal Council by minority shareholders, pursuant to the Management's Proposal. </FONT></LI></OL>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Indication of candidates to the Fiscal Council (the shareholder must complete this field if he left the general election field blank).</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Sitting Member:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Miguel Roberto Gherrize</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 58.15pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Alternate Member:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 36.9pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>William Pereira Pinto</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 58.15pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Approve [ ] Reject [ ] Abstain [ ]</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>City: ________________________________________________________</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Date: _______________________________________________________</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Signature: ___________________________________________________</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Name/Corporate Name of the shareholder: ______________________</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Individual/Corporate Taxpayer's ID (CPF/CNPJ): ___________________</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-AUTOSPACE: ideograph-numeric" face=Calibri,sans-serif>Number of shares _____________________________________________</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Calibri,sans-serif>70</FONT></FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Calibri,sans-serif></FONT></FONT></P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">SIGNATURE </FONT></DIV>

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<DIV style="TEXT-INDENT: 4%"><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. </FONT></DIV>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;March 30, 2017</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman">COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>

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

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Benjamin Steinbruch </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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   <DIV align=left>&nbsp;</DIV></TD></TR>

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

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;David Moise Salama </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>David Moise Salama </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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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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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
