DATE, TIME AND PLACE: Held at 8:00 a.m. on April 9, 2013, at the headquarters of CCR S.A. (“Company”), located at Avenida Chedid Jafet 222, Block B, 5th floor, in the city of São Paulo, state of São Paulo.

ATTENDANCE: All of the elected members of the Company‘s Board of Directors were present.

PRESIDING: Mrs. Ana Maria Marcondes Penido Sant’Anna chaired the meeting and Mr. Marcus Rodrigo de Senna served as secretary.

AGENDA: To resolve about: (i) the provision of a bank guarantee in the form of a surety, not jointly with the other Guarantors, by the Company, for 80% (eighty percent) of the obligations to be assumed by Barcas S.A. – Transportes Marítimos (“Barcas”) as a result of the issuance of ten (10) commercial promissory notes with a face value of R$ 14,600,000.00 (fourteen million, six hundred thousand reais) (“Commercial Notes”), in the total amount of R$ 146,000,000.00 (one hundred forty-six million reais), to be the subject of its first public offer, with restricted placement efforts, of commercial promissory notes, pursuant to the applicable instructions of the Comissão de Valores Mobiliários – CVM; and (ii) the authorization of the Board of Executive Officers and other representatives of the Company to execute all documents and perform all acts necessary to the granting of the aforementioned surety.

RESOLUTIONS: The Board unanimously and without any reservations voted the following resolutions as functions of clauses (xv) and (xvi) of article 14 of the Company‘s Bylaws:

(i) To authorize the provision of a guarantee provided by the Company in the form of a surety, not jointly with the other Guarantors, of 80% (eighty percent) of the obligations to be assumed by Barcas, through the issue and public offer of 10 (ten) Commercial Notes in the amount of R$ 14,600,000.00 (fourteen million, six hundred thousand reais) each, totaling R$ 146,000,000.00 (one hundred forty-six million reais), which have a maturity of 180 (one hundred and eighty) days, shall pay compensatory interest at maturity linked to the DI Rate plus a surcharge and whose other characteristics are described in the instruments relating to the issuance and public offering of the Commercial Notes;

(ii) To authorize the Company to sign through its officers and/or representatives, all the necessary contractual documents and instruments relating to the granting of this surety, and furthermore authorizing the Executive Board and other representatives of the Company to execute all other documents and perform all other acts deemed necessary for this purpose; and

(iii) Finally, to authorize the Executive Board and other representatives of the Company to carry out any and all acts for the purposes of execution of the resolutions herein taken, including the acts necessary for the registration and publication of these minutes and their copying into the respective corporate books.

CLOSURE: There being no further business, these minutes were drawn up, read, approved, approved and signed by all present. São Paulo, April 9, 2013. Mrs. Ana Maria Marcondes Penido Sant‘Anna, Chairwoman and, as Secretary, Mr. Marcus Rodrigo Senna. MEMBERS: (1) ANA MARIA MARCONDES PENIDO SANT’ANNA; (2) EDUARDO BORGES DE ANDRADE; (3) EMERSON DE ALMEIDA; (4) FRANCISCO CAPRINO NETO; (5) HENRIQUE SUTTON DE SOUSA NEVES; (6) LUIZ ALBERTO COLONNA ROSMAN; (7) MARCELO PIRES OLIVEIRA DIAS; (8) PAULO ROBERTO RECKZIEGEL GUEDES; (9) RICARDO COUTINHO DE SENA and (10) ROBERTO CARLOS DEUTSCH.

I certify that this is a true copy and confers with an original drawn up in the proper book, on pages 127, 128 and 129.

Mr. Marcus Rodrigo de Senna
Secretary