Information Operational Limits

The Clearings will assign an operational limit for each Compensation Agent.

The Compensation Agent shall allocate, either in whole or in part, the operational limit received by the Clearing to the Brokerage Firms to whom they provide compensation and operations liquidation services.

The allocation of the operational limit mentioned in the paragraph above must be done by the Compensation Agent based on his/her own evaluation and on the contractual conditions agreed upon with the Brokerage Firms to whom they provide compensation and operations liquidation services.

The Compensation Agent shall inform the Clearing on the distribution of the respective operational limit.

The Clearing shall immediately inform the Stock Operations Board of the content of the previous paragraph.

The Compensation Agent is in charge of the liquidation of the operations conducted by the respective Brokerage Firms to whom they provide compensation and operations liquidation services, observing the operational limit attributed to them.

The Stock Exchange shall inform the Clearing of occasional excesses to the operational limits attributed by the respective Compensation Agents to the Brokerage Firms.

If BM&FBovespa, upon the Clearing’s request, observes the recurrence of unauthorized excesses of the operational limit, it may restrict the Brokerage Firm’s operations to its legal framework.