Share Buyback

    Board of Directors approved, on March 15, 2017, a new share repurchase plan for the Company ("Repurchase Plan"), as provided for by Article 19, Item XVI, of the Company’s Bylaws, in accordance with the following terms and conditions and in compliance
    with Appendix 30-XXXVI of CVM Instruction 480, of December 7, 2009, issued by the Securities and Exchange Commission of Brazil (“CVM”), as amended by CVM Instruction 567, of September 17, 2015 ("ICVM 567").

    The number of shares that may be acquired or sold comprises two million, five hundred thousand (2,500,000) shares.

    The period for settling the Share Repurchase Program will be 18 months as from the date of the program’s approval.

    The transaction for acquisition of the Company’s shares will be intermediated by the following brokerage: ITAU CORRETORA DE VALORES S/A - Av. Brigadeiro Faria Lima, 3.500 – 3º Andar – Itaim Bibi – São Paulo – CEP 04538-132.

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