CVM Resolution No. 156 of June 23, 2022

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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.gov.br/cvm

CVM RESOLUTION NO. 156, OF JUNE 23, 2022

Provides for the voluntary disclosure of non-accounting information designated as LAJIDA and LAJIR.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL - CVM makes public that the Collegiate Body, in a meeting held on June 15, 2022, based on item I, of the sole paragraph of art. 22 of Law No. 6.385, of December 7, 1976, as well as arts. 5 and 14 of Decree No. 10.139, of November 28, 2019, APPROVED the following Resolution:

Art. 1 This Resolution governs the voluntary disclosure by publicly-held companies of information designated as LAJIDA (EBITDA) – Earnings Before Interest, Taxes, Including Social Contribution on Net Income, Depreciation and Amortization, and LAJIR (EBIT) – Earnings Before Interest and Taxes on Income Including Social Contribution on Net Income.

Art. 2 The calculation of LAJIDA and LAJIR must be based on the figures presented in the general-purpose financial statements provided for in Technical Pronouncement CPC 26 (R1) – Presentation of Financial Statements.

§ 1st Values that do not appear in the financial statements referred to in the caput, especially the income statement, cannot be part of the calculation of LAJIDA and LAJIR disclosed to the market.

§ 2nd The disclosure of the calculation of LAJIDA and LAJIR must be accompanied by the reconciliation of the values contained in the financial statements referred to in the caput.

Art. 3 The calculation of LAJIDA and LAJIR cannot exclude any non-recurring, non-operational, or discontinued operation items and will be obtained as follows:

I – LAJIDA - net result of the period, plus taxes on profit, net financial expenses minus financial revenues, and depreciation, amortization, and depletion;

II – LAJIR – net result of the period, plus taxes on profit and net financial expenses minus financial revenues.

Art. 4 The company may opt to disclose LAJIDA and LAJIR values excluding net results linked to discontinued operations, as specified in Technical Pronouncement CPC 31 – Non-Current Asset Held for Sale and Discontinued Operation, and adjusted by other items that contribute to information on gross cash generation potential.

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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.gov.br/cvm

CVM RESOLUTION NO. 156, OF JUNE 23, 2022
2

§ 1st The values referred to in the caput must be disclosed together with the values calculated in accordance with art. 3 of this Resolution.

§ 2nd The other items referred to in the caput can only be used for adjustment when they appear in the accounting records that served as the basis for the preparation of the financial statements of the period.

§ 3rd The disclosure of the values referred to in the caput must be accompanied by a description of their nature, as well as the method of calculation and the respective justification for including the adjustment.

Art. 5 The disclosure provided for in art. 4 of this Resolution must always be identified by the term “adjusted”.

Art. 6 The company’s administrators must give the disclosure of non-accounting information treated in this Resolution the same treatment given to the disclosure of accounting information.

Art. 7 All disclosure relating to LAJIDA or LAJIR must be made consistently and comparably with the presentation of previous periods, and in case of change, a justification must be presented, as well as a complete description of the change introduced.

Art. 8 The disclosure of LAJIDA or LAJIR values must be made outside the complete set of financial statements provided for in Technical Pronouncement CPC 26 (R1) – Presentation of Financial Statements.

Art. 9 The disclosure of the calculation of LAJIDA or LAJIR, as provided for in arts. 3 and 4 of this Resolution, must be subject to verification by the company’s independent auditor in accordance with standard NBC TA 720 issued by the Federal Council of Accountancy.

Art. 10 The following are revoked, from the effective date of this Resolution:

I – CVM Instruction No. 527, of October 4, 2012; and

II – Explanatory Note to CVM Instruction No. 527, of October 4, 2012.

Art. 11 This Resolution enters into force on August 1, 2022.

Signed electronically by
Marcelo Barbosa
President