The Company´s By-Law allows the shareholders the right to receive an annual mandatory dividend of not less than 25% (twenty five percent) of net income, decreased or increased by the following amounts: (i) the amount intended to form the legal reserve; (ii) the amount intended to form a reserve for contingencies and reversal of these reserves established in previous years, and (iii) the amount resulting from the reversal of the reserve for unrealized profits made in previous years, under Article 202, paragraph II of Law No. 6.404/76.

The payment can be made as dividends or interest on own capital, calculated on the equity accounts, observing the tax and limits established in the tax legislation. The amount paid to shareholders as interest on capital will be deducted from the minimum mandatory dividend.

Please refer to “Dividend Policy” available under the section “Shareholder Information.