Arbitration Clause

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The Company, its shareholders, management, members of the Fiscal Council (effective members and alternates), undertake to resolve through arbitration by the Market Arbitration Panel, in accordance with its regulations, any disputes which may arise among them, related with or originating from their position as issuer, shareholders, management and members of the Fiscal Council, particularly in the light of the provisions of Law 6.385/76, Law 6.404/76, these Corporate Bylaws, the rules published by the National Monetary Council, by the Central Bank of Brazil and by the CVM as well as other rules governing the securities market in general in addition to those of the Novo Mercado Listing Regulations, of other rules established by the B3 and the Novo Mercado Participation Agreement.

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.