According to the Company’s Bylaws, in Chapter VI – Fiscal Year and Profits: “The Shareholders are entitled to a non-cumulative annual dividend of at least 50% (fifty percent) of the adjusted net income for the year, pursuant to Article 202 of the Brazilian Corporate Law.” The Company has presented a history of dividend payments higher than the minimum compensation shown in the text of its bylaws provided above, which complies with the best corporate governance practices and its corporate strategy.