Our Standards

We are a company committed to maintaining high standards of corporate governance, based on principles that privilege transparency, equal treatment of shareholders, accountability, corporate responsibility and respect for shareholders.

We have adopted the corporate governance practices recommended by the Brazilian Institute of Corporate Governance (IBGC), the main ones being described below:

a) Our capital is divided only into common shares, providing voting rights to all shareholders;

b) Our General Meeting has the right to resolve on (i) increases or decreases in our capital stock (except for increases within the authorized capital limit) and on the amendment of our Bylaws; (ii) the election and removal, at any time, of members of our Board of Directors and fiscal council (if installed); (iii) the approval of the accounts presented by our managers and the approval of our financial statements; (iv) transformation, spin-off, dissolution or liquidation involving our Company; (v) the approval of our managers’ global compensation; and (vi) approving stock option plans;

c) Our Bylaws provide for clear and objective rules for voting by shareholders meeting at the General Meeting;

d) We register, whenever required by our shareholders, the occurrence of dissenting votes;

e) In the event of direct or indirect sale of our shareholding control, the one that acquires control is obliged to make a public offer for the acquisition of shares to all of our shareholders, in order to provide equal treatment to that given to the selling shareholder of the shares representing the control;

f) We have a policy for the disclosure of relevant acts or facts, which elects our Investor Relations Officer as our main spokesperson;

g) We have adopted a negotiation policy for trading shares issued by us, approved by our Board of Directors, and we have controls that enable compliance with them;

h) We have a code of conduct, which must be observed by all of our employees, directors and members of the Board of Directors and auditors (when installed);

i) Our Bylaws provide for the resolution of conflicts between us, our shareholders, our managers and members of our fiscal council (if installed) through arbitration.

For more details, see section 12.12 of our Reference Form and access our Corporate Governance Report.