Glossary

A

Arbitration Chamber: 
Market Arbitration Chamber established by the Bovespa for resolution of disputes between companies and its investors.

B

Bovespa:
São Paulo Stock Exchange (Bolsa de Valores de São Paulo)

BR GAAP: 
Accounting practices adopted in Brazil, or Brazilian GAAP or Brazilian Corporation Law.

C

CBLC: 
The Brazilian Settlement and Custodial Company (Companhia Brasileira de Liquidação e Custódia).

Company or Fras-Le:
Refers to Fras-Le S.A.

CVM:
The Brazilian Securities Commission (Comissão de Valores Mobiliários).

R

Real, Reais or R$:
refers to the Brazilian real, the official currency of Brazil

Regulation S:
Rule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to institutional and other investors outside the United States and Brazil that are not U.S. persons.

Rule 144A: 
Rule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to qualified institutional buyers of the United States.

S

SEC:
Securities and Exchange Commission.

U

U.S. dollar, U.S. dollars or US$:
refers to U.S. dollars

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