Name	Occupation
Luis Miguel Gilpérez López	President
Shakhaf Wine	Vice-President
Luis Miguel da Fonseca Pacheco de Melo	Councilor
António Gonçalves de Oliveira	Councilor
Félix Pablo Ivorra Cano	Councilor
Ignacio Aller Mallo	Councilor
José Guimarães Monforte	Councilor
Luiz Kaufmann	Councilor
Rui Manuel de Medeiros d'Espiney Patricio	Councilor

Name	Occupation
Roberto Oliveira de Lima	President
Cristiane Barretto Salles	Vice-President, Financial, Planning and Control Investor Relations Director
Eduardo Aspesi	Vice-President, Marketing and Innovation
Javier Rodríguez García	Vice-President, Technology and Networks
Paulo Cesar Pereira Teixeira	Executive Vice-President, Operations
Sergio Assenço Tavares dos Santos	Vice-President, Regulamentation and Institutional Relations
João José Gallego Moura	Vice-President, Resources

We have a permanent Audit Committee (Conselho Fiscal), which may have three to five members and same number of alternates. The members of the Audit Committee are elected by the shareholders for a term of one year. One of the members of the Audit Committee and his alternate are elected by the majority vote of the preferred shares. The Audit Committee is responsible for overseeing our management. Its main duties are:

•	to review and provide an opinion on the annual report of our management,
•	to review and approve the proposals of the management bodies to be submitted to the shareholders' meeting regarding changes to share capital, issuance of debentures an subscription rights, capital investment plans and budgets, distributions of dividends, changes in corporate form, consolidations, mergers or split-up, and
•	to review the financial statements for the fiscal year and to approve them.

Effective Members	Deputy Members
Claudio José Carvalho de Andrade	Daniel Vidal de Almeida
Paula Bragança França Mansur	Norair Ferreira do Carmo
Fabiana Faé Vicente Rodrigues	João Renato Pierre