Board of Statutory Auditors

The role of the Board of Statutory Auditors is to monitor the correct application of the regulations within the company.

The Board of Statutory Auditors is responsible for:

(i) ensuring compliance with the law and the Company bylaws and the application of correct management principles in the conduct of business;

(ii) checking the financial information process and the adequacy of the Company's organizational structure, internal audit system and administrative-accounting system, as well as the reliability of the latter to properly present the facts of the Company's management;

(iii) supervising the audit of the annual financial statements and of the consolidated financial statements and the independence of the external auditor;

The Board of Statutory Auditors currently in office was appointed by the ordinary Shareholders' Meeting of May 13, 2014 for a term of three financial years.

The Board's mandate will therefore expire with the Shareholders' Meeting to be convened for the approval of the financial statements for the year ending December 31, 2016