Votorantim 3Q Financial Results

Votorantim Closing Remarks Business and geographic diversification mitigate negative impact of the Brazilian economic retraction. Management focused on productivity and on keeping costs and expenses under control. Comfortable liquidity position as well as both extended and smooth debt maturity profile. Resourceful company, always looking for asset optimization. Energy auction in 2014, sale of non-operational real state properties, among others. Votorantim maintains the Investment Grade by all agencies - commitment to keep IG credit metrics. 16

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