Circular Letter CVM/SEP No. 04/2018

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327- 2030/2031 www.cvm.gov.br Circular Letter No. 4/2018-CVM/SEP Rio de Janeiro, June 13, 2018. Subject: item 13.11, of Annex 24, of Instruction CVM No. 480/2009 Director of Investor Relations/Legal Representative

1. This Circular Letter aims to guide on the necessary procedures regarding the information contained in the Reference Form, due to the publication of the Ruling issued by the Eighth Specialized Chamber of the Regional Federal Court of the 2nd Region, which granted the appeal filed by the Securities and Exchange Commission, reforming the first-instance decision that had ordered the CVM to refrain from implementing a requirement contained in sub-item 13.11 of Annex 24 of Instruction CVM 480/09, which established the disclosure of information regarding the minimum, average, and maximum remuneration of the administrators of each corporate body (board of directors, executive board, and fiscal council), to be reported in item 13.11, of Annex 24, of Instruction CVM No. 480/09.

2. Given that, in accordance with art. 24, §1º, of Instruction CVM No. 480/09, the deadline for submitting the Reference Form via the Empresas.Net System for open and foreign companies whose fiscal year coincides with the calendar year has already ended, we request, based on art. 57 of Instruction CVM No. 480/09, that companies registered in category A that submitted the Reference Form without fully completing the aforementioned item 13.11 resubmit the document including the information on remuneration subject to this Circular Letter.

3. The resubmission of the Reference Form, mentioned in the previous paragraph, must be made by June 25, 2018.

4. Finally, we emphasize that non-compliance with the requirements of this document subjects those responsible for providing the said information to potential determination of their liabilities.

Circular Letter 4 (0536042) SEI 19957.005881/2018-11 / pg. 1

Sincerely,
Document electronically signed by Fernando Soares Vieira, Superintendent, on 06/13/2018, at 17:02, based on art. 6º, § 1º, of Decree No. 8.539, of October 8, 2015. The authenticity of the document can be verified on the site https://sei.cvm.gov.br/conferir_autenticidade, by entering the verification code 0536042 and the CRC Code BEE91B55. This document's authenticity can be verified by accessing https://sei.cvm.gov.br/conferir_autenticidade, and typing the "Verification Code" 0536042 and the "CRC Code" BEE91B55. Reference: Process No. 19957.005881/2018-11 SEI Document No. 0536042 Circular Letter 4 (0536042) SEI 19957.005881/2018-11 / pg. 2