Monetary Restatement

The subscription warrant exercise price is monetarily corrected by the IGP-DI (General Price Index – Domestic Supply) of the Getúlio Vargas Foundation, up to the date of the effective exercise. If on the date of the subscription the IGP-DI for the month is not available, the relevant price will be restated pro rata, using as a base the last published index.

We show below the monthly restatement of the subscription warrants, noting that:

The restatement from June 17, 1996 to June 30, 1996 was effected pro rata;
The negative IGP-DI were also taken into account for the restatement.

2011

Date Subscription Price (R$)
January 28.882675
February 29.165166
March 29.444140
03/31/2011 29.7166550
04/01/2011 29.7257821
04/04/2011 29.7540941
04/052011 29.7635374
04/06/2011 29.7729837
04/07/2011 29.7824330
04/08/2011 29.6658567
04/11/2011 29.6839067
04/12/2011 29.6899258
04/13/2011 29.6959462
04/14/2011 29.7019677
04/15/2011 29.7079905
04/18/2011 29.7260662
04/19/2011 29.7320939
04/20/2011 29.7381227
04/25/2011 29.7682855
04/26/2011 29.7743218
04/27/2011 29.7803592
04/28/2011 29.7863979
04/29/2011 29.7924378
05/02/2011 29.8103699
05/03/2011 29.8162196
05/04/2011 29.8220705
05/05/2011 29.8279226
05/06/2011 29.8337758
05/09/2011 29.8513423
05/10/2011 29.8133569
05/11/2011 29.8181117
05/12/2011 29.8228674
05/13/2011 29.8276238
05/16/2011 29.8418975
05/17/2011 29.88466569
05/18/2011 29.8514171
05/19/2011 29.8561780
05/20/2011 29.8609397
05/23/2011 29.8752293
05/24/2011 29.8799941
05/25/2011 29.8847596
05/26/2011 29.8895258
05/27/2011 29.8942929
05/30/2011 29.9085985
05/31/2011 29.9133685
06/01/2011 29.9181393
06/02/2011 29.9230700
06/03/2011 29.9280015
06/06/2011 29.9428007
06/07/2011 29.9477354
06/08/2011 29.7730875
06/09/2011 29.7731548
06/10/2011 29.7732221
06/13/2011 29.7734241
06/14/2011 29.7734914
06/15/2011 29.7735587
06/16/2011 29.7736260
06/17/2011 29.7736933
06/20/2011 29.7738952
06/21/2011 29.7739625
06/22/2011 29.7740299
06/24/2011 29.7741645
06/27/2011 29.7743664
06/28/2011 29.7744337
06/29/2011 29.7745010
06/30/2011 29.7745684

2010

Date Subscription Price (R$)
December 28.773704
November 28.326095
October 28.037612
September 27.733757
August 27.431920
July 27.372452
06.23.2010 27.5925500
06.22.2010 27.5782340
06.21.2010 27.5639255
June 27.279309
May 26.857884
April 26.666257
March 26.498664
February 26.212005
January 25.950292

2009

Date Subscription Price (R$)
December 25.979602
November 25.966305
October 25.976696
September 25.911916
August 25.888616
July 26.055370
June 26.139015
May 26.092049
April 26.081616
March 26.302558
February 26.336796
January 26.334163

2008

Date Subscription Price (R$)
December 26.450545
November 26.432043
October 26.147040
September 26.053248
August 26.152628
July 25.862963
June 25.383220
May 24.914821
April 24.638866
March 24.467593
February 24.374968
January 24.136021

2007

Date Subscription Price(R$)
December 23.786361
11.30.2007 23.709837
11.29.2007 23.703933
11.28.2007 23.698030
11.27.2007 23.692128
11.26.2007 23.686228
11.25.2007 23.680329
11.24.2007 23.674432
11.23.2007 23.668536
11.22.2007 23.662642
11.21.2007 23.656749
11.20.2007 23.650857
11.19.2007 23.644968
11.18.2007 23.639079
11.17.2007 23.633192
11.16.2007 23.627307
11.15.2007 23.621423
11.14.2007 23.615540
11.13.2007 23.609659
11.12.2007 23.603779
11.11.2007 23.597901
11.10.2007 23.592024
11.09.2007 23.586149
11.08.2007 23.580275
11.07.2007 23.692382
11.06.2007 23.683198
11.05.2007 23.674017
11.04.2007 23.664839
11.03.2007 23.655665
11.02.2007 23.646495
11.01.2007 23.637328
October 23.363969
September 23.093773
August 22.777170
July 22.693205
June 22.634356
May 22.598199
April 22.566605
March 22.517068
February 22.465397
January 22.369210

2006

Warrants Price
December 22.311201
November 22.184748
October 22.006494
September 21.953805
August 21.864162
July 21.827056
06/30/2006 21.761428
06/29/2006 21.758677
06/28/2006 21.755926
06/27/2006 21.753176
06/26/2006 21.750426
06/23/2006 21.742178
06/22/2006 21.739429
06/21/2006 21.736681
06/20/2006 21.733933
06/19/2006 21.731185
06/16/2006 21.722945
06/14/2006 21.717453
06/13/2006 21.714707
06/12/2006 21.711962
06/09/2006 21.703729
06/08/2006 21.700985
06/07/2006 21.604894
06/06/2006 21.604750
06/05/2006 21.604606
06/02/2006 21.604174
06/01/2006 21.604029
05/31/2006 21.603890
05/30/2006 21.603751
05/29/2006 21.603611
05/26/2006 21.603193
05/25/2006 21.603054
05/24/2006 21.602915
05/23/2006 21.602775
05/22/2006 21.602636
05/19/2006 21.602218
05/18/2006 21.602078
05/17/2006 21.601939
05/16/2006 21.601800
05/15/2006 21.601660
05/12/2006 21.601242
05/11/2006 21.601103
05/10/2006 21.470080
05/09/2006 21.473204
05/08/2006 21.476328
05/05/2006 21.485704
05/04/2006 21.488830
05/03/2006 21.491957
05/02/2006 21.495084
04/28/2006 21.507909
04/27/2006 21.511143
04/26/2006 21.514377
04/25/2006 21.517612
04/24/2006 21.520847
04/20/2006 21.533793
04/19/2006 21.537030
04/18/2006 21.540268
04/17/2006 21.543507
04/13/2006 21.556466
04/12/2006 21.559707
04/11/2006 21.562949
04/10/2006 21.566191
04/07/2006 21.575920
04/06/2006 21.677825
04/05/2006 21.678258
04/04/2006 21.678692
04/03/2006 21.679126
03/31/2006 21.680413
February 21.706032
January 21.550866

Updated 12/10/2018 at 03:01 pm