1. DATE, TIME AND VENUE: May 13, 2015, at 10:30 a.m., at the Company’s headquarters, at Avenida Chedid Jafet, 222, Bloco B, 5º andar, in the city and state of São Paulo.

2. ATTENDANCE: All sitting members attended the meeting.

3. PRESIDING BOARD: Newton Brandão Ferraz Ramos presided over the meeting and Danieli Patrícia Ribeiro acted as secretary.

4. AGENDA: To resolve on the analysis of the Company’s Quarterly Information (ITR) for the period ended March 31, 2015.

5. RESOLUTIONS: The sitting members analyzed the Company’s Quarterly Information (ITR) for the period ended March 31, 2015 and, based on this analysis and the Report on the Company’s Quarterly Information issued by the independent auditors Deloitte Touche Tohmatsu on May 13, 2015, as well as complementary documents presented at this Meeting and filed at the Company‘s headquarters, approved this Quarterly Information unanimously and without restrictions.

6. CLOSURE: There being no further business to address, the meeting was adjourned for the time necessary to draw up of these minutes. The meeting was reinstalled, these minutes were read, found to be in compliance, approved and signed by all attending members.

São Paulo, May 13, 2015.

Newton Brandão Ferraz Ramos Danieli Patrícia Ribeiro
Chairman Secretary

Fiscal Council members:

Newton Brandão Ferraz Ramos

Adalgiso Fragoso de Farias

José Valdir Pesce