CIRCULAR LETTER/CVM/SEP/No. 003/2014

Rio de Janeiro, September 15, 2014.

Subject: Incentivized companies - submission of periodic and occasional information

Responsible Director,

This Circular Letter aims to inform incentivized companies that, in order to maintain their updated registration, starting from 10/01/2014, periodic and occasional information may be submitted through the CVM or BM&FBOVESPA pages on the global computer network.

This measure is part of the CVM's action in the effort to facilitate compliance by incentivized companies with regulatory disclosure obligations. Therefore, the information submitted will be available simultaneously on the CVM and BM&FBOVESPA pages, in the latter case for incentivized companies listed there.

In this sense, we remind you that, as established in Article 16 of CVM Instruction No. 265/97, incentivized companies that do not yet have registration on BM&FBOVESPA must request admission to trade the securities issued by them in a self-regulatory entity – stock exchange or organized over-the-counter market – authorized to operate by the CVM.

The information to maintain the registration referred to in this Circular Letter is provided for in Articles 12 and 13 of CVM Instruction No. 265/97 and may be forwarded through the Periodic and Occasional Information system – IPE, whose access will be via a login and password to be provided by the CVM.

Access to the IPE system on the CVM page is under the option Market Participants / Document Submission / IPE (https://www.rad.cvm.gov.br/ipe/menu.asp) and on the BM&FBOVESPA page under the option SERVICES / Solutions for Companies / Mandatory information systems / IPE – Document Submission (https://seguro.bmfbovespa.com.br/ipe/index.asp?Idioma=pt-br).

Finally, we recommend reading the IPE Manual document, which is available on the CVM page (http://www.cvm.gov.br/port/CiasAbertas/manualipe.asp) for the correct use of the IPE system as applicable to incentivized companies.

Sincerely,

Fernando Soares Vieira

Superintendent of Corporate Relations