Overview

GPA tries to ensure agile and symmetrical disclosure, a commitment to the capital markets, and respect for shareholders and investors.

The Group complies with all rules for publicly held companies, such as the adoption of national accounting standards and maintaining its registration as a publicly held company with the Brazilian Securities Commission (Comissão de Valores Mobiliários – CVM). Outside Brazil, it follows the determinations of the United States Securities and Exchange Commission and the New York Stock Exchange for foreign companies listed in the United States.

Although it is listed on Level 1 of the Corporate Governance segments of the São Paulo Stock Exchange (Bolsa de Valores de São Paulo – BM&FBovespa), GPA has adopted heightened governance practices required of companies listed on Level 2 and the Novo Mercado segments:

• A Board of Directors with five independent members
• Five committees to advise the Board of Directors
• A dividend policy
• An annual self-evaluation by the members of the Board of Directors
• A manual for participating in Shareholders’ Meetings

In GPA’s model of corporate governance, the Board of Directors and the Board of Executive Officers have defined and fundamental responsibilities for the proper conduct of the businesses.