Celebrating 10 Years at BM&FBOVESPA

Auditor's Report G4-32 G4-33 LOJAS RENNER S.A. RENNER YOUCOM CAMICADO KPMG KPMG KPMG Financial Risk & Actuarial Services Ltda. Rua Arquiteto Olavo Redig de Campos, 105, 6º andar - Torre A 04711-904 - São Paulo/SP - Brasil Caixa Postal 79518 - CEP 04707-970 - São Paulo/SP - Brasil Telefone 55 (11) 3940-1500, Fax 55 (11) 3940-1501 www.kpmg.com.br Limited assurance report issued by independent auditors To the Board of Directors, Shareholders and Stakeholders Lojas Renner S.A. Porto Alegre RS Introduction We have been engaged by Lojas Renner S.A. (Lojas Renner or "Company") to apply limited assurance procedures on the sustainability information disclosed in Lojas Renner's Annual Report 2015, related to the year ended December 31st, 2015. Responsibilities of Lojas Renner's Management The Management of Lojas Renner is responsible for adequately preparing and presenting the sustainability information in the Annual Report 2015 in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines (GRI-G4), as well as the internal controls determined necessary to ensure this information is free from material misstatement, resulting from fraud or error. Independent auditors' responsibility Our responsibility is to express a conclusion about the information in the Annual Report 2015 based on a limited assurance engagement conducted in accordance with Technical Communication (TC) 07/2012, which was prepared based on NBC TO 3000 (Assurance Engagements Other Than Audits and Reviews), both issued by the Brazilian Federal Accounting Council - CFC and equivalent to international standard ISAE 3000, issued by the International Federation of Accountants and applicable to Non-Financial Historical Information. These standards require compliance with ethical requirements, including independence ones, and the engagement is also conducted to provide limited assurance that the information disclosed in the Lojas Renner's Annual Report 2015, taken as a whole, is free from material misstatement. A limited assurance engagement conducted in accordance with NBC TO 3000 (ISAE 3000) consists mainly of questions and interviews with the Management of Lojas Renner and other professionals of the Company involved in the preparation of the information disclosed in the Annual Report 2015 and use of analytical procedures to obtain evidence that enables us to reach a limited assurance conclusion about the sustainability information taken as a whole. A limited assurance engagement also requires additional procedures when the independent auditor acknowledges issues which may lead them to believe that the information disclosed in the Annual Report 2015 taken as a whole could present material misstatement. The selected procedures were based on our understanding of the issues related to the compilation, materiality and presentation of the information disclosed in the Annual Sustainability Report 2015, on other engagement circumstances and also on our considerations regarding areas and processes associated with material sustainability information disclosed where relevant misstatement could exist. The procedures consisted of: (a) (b) (c) (d) • Engagement planning: considering the material aspects for Lojas Renner's activities, the relevance of the information disclosed, the amount of quantitative and qualitative information and the operational systems and internal controls that served as a basis for preparation of the information in the Lojas Renner's Annual Report 2015. This analysis defined the indicators to be checked in details; Understanding and analysis of disclosed information related to material aspects management; Analysis of preparation processes of the Annual Report 2015 and its structure and content, based on the Principles for Defining Report Content and Quality of the Global Reporting Initiative GRI (GRI-G4); Evaluation of non financial indicators selected: Understanding of the calculation methodolody and procedures for the compilation of indicators through interviews with management responsible for data preparation; Application of analytical procedures regarding data and interviews for qualitative information and their correlation with indicators disclosed in the Annual Report 2015; • Analysis of evidence supporting the disclosed information; (e) (f) Visits to Lojas Renner's office for application of these procedures, and items (b) and (c); Analysis of whether the performance indicators omission and justification are reasonable to be accepted associated to aspects and topics defined as material in the materiality analisys of the Company; Comparison of financial indicators with the financial statements and/or accounting records. We believe that the information, evidence and results we have obtained are sufficient and appropriate to provide a basis for our limited assurance conclusion. Scope and limitations The procedures applied to a limited assurance engagement are substantially less extensive than those applied to a reasonable assurance engagement. Therefore, we cannot provide reasonable assurance that we are aware of all the issues that would have been identified in a reasonable assurance engagement, which aims to issue an opinion. If we had conducted a reasonable assurance engagement, we may have identified other issues and possible misstatements within the information presented in the Annual Report 2015. KPMG Financial Risk & Actuarial Services Ltda., uma sociedade simples brasileira, de responsabilidade limitada, e firma-membro da rede KPMG de firmas membro independentes e afiliadas à KPMG International Cooperative ("KPMG International"), uma entidade suiça KPMG Financial Risk & Actuarial Services Ltda, a Brazilian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity KPMG Financial Risk & Actuarial Services Ltda., uma sociedade simples brasileira, de responsabilidade limitada, e firma-membro da rede KPMG de firmas membro independentes e afiliadas à KPMG International Cooperative ("KPMG International"), uma entidade suiça. KPMG Financial Risk & Actuarial Services Ltda., a Brazilian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity 2 119

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