Grendene Business Overview

GrendeneⓇ Brazil's footwear sector Profile 8,200 producers in 2010 348,000 direct employees Production: 894 million pairs in 2010 (814 million pairs in 2009) World's 3rd largest producer. Apparent consumption, Brazilian domestic market: 780 million pairs and 4.1 pairs per capita/year in 2010 (717 million pairs and 3.7 pairs in 2009). Exports in 2010: 143 million pairs to more than 140 countries (+12.9% vs. 2009) Source: IEMI/TEM/MDIC-SECEX/ABICALÇADOS The industry itself is not much more than 150 years old - companies are typically small and labor-intensive, with no entry or exit barriers. 7

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