Joint Circular CVM/SEP/SRE No. 01/2019

SECURITY AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Joint Circular No. 01/2019/CVM/SEP/SRE Rio de Janeiro, April 30, 2019

To issuers and intermediaries of securities

Subject: Erratum of the guidance on identifying the reserved nature - CVM Resolution No. 809/2019

Dear Sirs,

We refer to Joint Circulars No. 02/2019/CVM/SEP and No. 01/2019/CVM/SRE, both dated February 19, 2019, with the aim of rectifying the method of identifying the reserved nature of the request when submitting the digital protocol to the CVM, via the Services Portal accessed through the address www.servicos.gov.br.

In this sense, we inform you that when filling out the "Digital Protocol" form, the reserved nature of the request must be indicated as follows:

i) In the section - "Document Data": in the field "Document Identification/Number", after specifying the request for registration of a distribution offering, or if applicable, registration of an offering concurrent with the issuer registration, the applicant must insert the expression "reservado, Deliberação CVM nº 809/19".

For the record, we reiterate that, without prejudice to this guidance for identifying the reserve when processing through the digital form, the initial petition requesting the analysis of the registration of the public distribution offering and/or initial concurrent issuer registration must (i) expressly mention the submission of the request under reserve, in accordance with CVM Resolution No. 809/19, and (ii) present a declaration by the issuer justifying the confidentiality of the request, including the reasons why the disclosure of the request may represent a competitive advantage to other economic agents or put at risk the legitimate interest of the company.

We also remind you that it is the sole responsibility of the lead intermediary and/or the issuer to identify the reserved nature of the request, which will necessarily be granted if the aforementioned characterization procedures are followed.

SECURITY AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br

Finally, we clarify that this circular aims exclusively at correcting the procedure to be observed when pointing out the reserved nature of the request, through the identification that must be made in the "Digital Protocol" form as per item i) above. In this sense, all other guidance provided through the initially cited Joint Circulars remains valid, which must be read together. There is no impact on the internal flow of information resulting from such procedure correction.

Sincerely,

Digitally signed by
FERNANDO SOARES VIEIRA
Digitally signed by
LUIS MIGUEL R. SONO

Superintendent of Corporate Relations Superintendent of Securities Registration – in acting capacity