Reference Form 2020
Total Page:16
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Reference Form 2020 | 1 TABLE OF CONTENTS 1 - IDENTIFICATION OF THE PERSONS RESPONSIBLE FOR THE CONTENT OF THE FORM .................................................................................... 5 1.1 - Declaration by the CEO ......................................................................................................................................................................................................................... 6 1.2 - Declaration by the Investor Relations Officer ....................................................................................................................................................................................... 7 2 - AUDITORS ................................................................................................................................................................................................... 8 2.1/2.2 - Independent Auditors Identification and Compensation .............................................................................................................................................................. 8 2.3 - Other material information .................................................................................................................................................................................................................. 9 3 - SELECTED FINANCIAL INFORMATION ........................................................................................................................................................ 10 3.1 - Financial Information - Consolidated .................................................................................................................................................................................................. 10 3.2 - Non-accounting Measurements ......................................................................................................................................................................................................... 11 3.3 - Event Subsequent to the Latest Year-End Financial Statements ........................................................................................................................................................ 16 3.4 - Policy for Allocation of Income ........................................................................................................................................................................................................... 17 3.5 - Dividend Distributed and Net Income Retained ................................................................................................................................................................................. 20 3.6 - Dividends Declared as Retained Profit or Reserves Established......................................................................................................................................................... 21 3.7 - Debt level ............................................................................................................................................................................................................................................ 22 3.8 - Obligations .......................................................................................................................................................................................................................................... 23 3.9 - Other material information ................................................................................................................................................................................................................ 24 4 - RISK FACTORS ........................................................................................................................................................................................... 25 4.1 - Description of Risk Factors.................................................................................................................................................................................................................. 25 4.2 - Description of the Main Market Risks ................................................................................................................................................................................................ 40 4.3 - Judicial, Administrative or Arbitration Proceedings that are not Confidential and Relevant ............................................................................................................ 43 4.4 - Judicial, Administrative or Arbitration Proceedings that are not Confidential to which Counterparties are Managers or Former Managers, Controlling or Former Controlling Shareholders or Investors ........................................................................................................................................................................................................ 50 4.5 - Material Confidential Proceedings ..................................................................................................................................................................................................... 51 4.6 - Judicial, Administrative or Arbitration Proceedings that are Repetitive or Connected, which are not Confidential and that Together are relevant ...................... 52 4.7 - Other Material Contingencies ............................................................................................................................................................................................................. 53 4.8 - Rules of the country of origin of the foreign issuer and rules of the country in which the foreign issuer’s securities are held in custody ...................................... 55 5 - RISK MANAGEMENT AND INTERNAL CONTROLS ....................................................................................................................................... 56 5.1 - Risk Management Policy ..................................................................................................................................................................................................................... 56 5.2 - Market Risks Management Policy....................................................................................................................................................................................................... 63 5.3 - Description of Internal Controls ......................................................................................................................................................................................................... 64 5.4 - Integrity Program ................................................................................................................................................................................................................................ 68 5.5 - Material Changes ................................................................................................................................................................................................................................ 75 5.6 - Other material information - Risks management and internal controls ............................................................................................................................................ 76 6 - HISTORY OF ISSUER .................................................................................................................................................................................. 77 6.1 / 6.2 - Issuer's incorporation and term ................................................................................................................................................................................................. 77 6.3 - Brief history......................................................................................................................................................................................................................................... 78 6.4 - Date of registration with CVM ............................................................................................................................................................................................................ 80 6.5 - Information on Bankruptcy Petition Filed for a Material Amount or a Court-supervised or out-of-court Reorganization ............................................................... 81 6.6 - Other material information ................................................................................................................................................................................................................ 82 7 - ISSUER ACTIVITIES .................................................................................................................................................................................... 83 7.1 - Description of the core activities developed by the issuer and its subsidiaries ................................................................................................................................. 83 7.1.a - Information on mixed economy companies: ................................................................................................................................................................................... 85 7.2 - Information on Operational Segments ..............................................................................................................................................................................................