Management Compensation

At the Annual General Meeting of Valid held on April 26, 2018 at the Company’s head offices, most of attending voting shareholders, as per votes cast and filed at the Company‘s head offices, among other resolutions, defined the overall annual compensation of the Company’s members of the Board of Directors and Board of Executive Officers to be effectively paid during 2018, totaling twenty one million, three hundred and ninety-eight thousand, seven hundred and fifty-six reais (R$21,398,756).

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