1. Guararapes-Riachuelo does not assure that the contents, instruments and materials contained, utilized and offered in this website are exactly up-to-date or complete and does not accept responsibility for damages caused by eventual errors of content or shortcomings of equipment.

2. The Company does not accept express or tacit responsibility for the improper use of the information, instruments or materials made available and/or of the equipment used for this website, for whatever purpose made by any user, who has entire responsibility for eventual harm done to their own rights or of third parties, whether or not caused by this improper use.

3. Under no circumstances, will Guararapes-Riachuelo, its directors, executive officers or employees be held responsible for any direct or indirect, special, incidental or consequential losses or expenses arising out of the connection with this website or use on its part or incapacity of use by anyone, or with regard to any shortcoming in performance, error, omission, interruption, defect or delay in operation or transmission, computer virus or breakdown of line or of the system, even if the Company or its representatives have been advised of the possibility of such damages, losses or expenses.

4. The adequate provisioning of all the resources of the Internet, without exception, is the entire responsibility of the user of this website.

5. Guararapes-Riachuelo does not accept responsibility for the contents of other websites (a) whose addresses are available on the pages of this website or (b) the address of whose website is available to them. The Company does not guarantee the compensation of any damage caused by the websites mentioned in this item.

6. With regard to the exchange of messages between the user and Guararapes-Riachuelo through the Internet, please consult its Privacy Policy.

7. An investment in securities involves a high degree of risk. Please review the Company’s Risk Factors and consider you own investment objectives and financial situation before making any investment decision Risk Factors.

Guararapes-Riachuelo reserves the right to improve the functioning of this website because of the analysis and consolidating of the information and suggestions collected and of the opportunities of these for all of the users of the website. For further advice on the use of information collected at this website, please consult its Privacy Policy.

Unless there is any regulation to the contrary, all the contents of the pages of this website, such as information, materials, tools, paging, graphs and drawings belong to Guararapes-Riachuelo or to third parties, who have legally ceded their rights of usage.

The Company calculates EBITDA by adding net financial income, depreciation and amortization of goodwill and other amortization (in accordance with CVM Official Letter 01/2005) to its income (loss) from operations. EBITDA is not a measure recognized under Brazilian GAAP or under U.S. GAAP, does not represent the cash flow for the periods indicated and should not be considered as an indicator of operating performance or as a substitute for cash flow as a measure of liquidity. EBITDA does not present a standardized meaning and Guararapes-Riachuelo’s EBITDA calculation may not be comparable to the EBITDA or Adjusted EBITDA of other companies. Even though EBITDA does not provide a measure of operating cash flow in accordance with Brazilian GAAP or U.S. GAAP, Guararapes-Riachuelo’s management uses EBITDA to measure its operating performance. Additionally, Guararapes-Riachuelo’s believes that disclosure of EBITDA can provide additional information to investors, financial analysts and the public in their review of the Company’s operating performance and its comparison to the operating performance of other companies in the same industry and other industries.