Arbitration Clause

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The Company, its Shareholders, Managers and Statutory Audit Committee’s members undertake to settle, through arbitration proceeding with Arbitration Chamber of Mercado, any and all doubts or disputes that may arise between them, whether related to or arising from the application, validity, enforceability, interpretation, violation and effects of the provision provided for in the Corporate Law, in these Bylaws, in rules enacted by the National Monetary Council, by the Central Bank of Brazil and by the Brazilian Securities Commission (CVM), as well as in the other regulations applicable to the capital market in general, addition to those contained in the Regulation of Novo Mercado, in the Agreement for Listing in the Novo Mercado, in the Arbitration Regulation of the Arbitration Chamber of Mercado and in Sanctions Regulation.

The arbitration chamber shall be made up of 3 (three) arbitrators, appointed pursuant to the Arbitration Regulation of the Arbitration Chamber of Mercado.

Arbitration shall be conducted in the municipality of São Paulo, state of São Paulo, Brazil. The language of the arbitration process shall be Portuguese. The arbitration shall be conducted and adjudicated according to Brazilian Law.

Without in anyway limiting the validity of this arbitration clause, petitioning for writs of prevention and urgency by the parties, prior to the constitution of the arbitration tribunal, may be submitted to the Law Courts. Once the arbitration tribunal has been constituted, all petitioning for writs of prevention or urgency shall be submitted to the said arbitration tribunal, the latter being from then on authorized to maintain, revoke or modify writs of prevention and petitioning for urgency previously solicited to the Law Courts.