ABRAVEI CONDUCT CODE

This Code of Conduct aims to establish ethical principles and guidelines and standards of

conduct to be followed in the relations of the members of ABRAVEI's governing body, both with

associates, as well as with the most diverse sectors of the market, government and society.

Any adjustments, additions and changes to this code may be requested by members and

for discussion and deliberation by the governing body at any time. -

1) About institutional communication:

a) It is established that only the president of ABRAVEI, or someone for this

designated, speaks on behalf of the association with the various sectors of society,

press, government or market;

b) All members of the Executive Board, while in the exercise of their functions,

must be extra careful in their public manifestations due to the

repercussions that this may have on the association and report any

public citations made to ABRAVEI of which they are aware;

c) The invitations made to the directors of ABRAVEI to make presentations in

name of the association must be approved by the governing body. Once approved,

expenses inherent to the director's participation in the event, such as travel,

food and lodging must be negotiated by the guest director

directly with the party that made the invitation, being immediately forbidden to charge

of remuneration on behalf of ABRAVEI;

d) The governing body must communicate to the associates all events in which there are

any member of the board representing ABRAVEI, detailing the cost

of such action and whether the invitation was made to ABRAVEI or to the individual who, with approval

of the board, took the opportunity to publicize the association. -

2) About events:

a) Board members must submit any invitations to participate in the

ABRAVEI in events of any kind to the curatorship and approval of the governing body;

b) In the case of invitations to social events made to ABRAVEI that are restricted

regarding the number of participants, the vacancies must be filled in order

hierarchical by the members of the board. If there is no restriction on the number of

participants, the invitation must be extended and communicated to all members. -

3) Gifts, hospitality and personal benefits:

a) Every time any member of ABRAVEI's board of directors receives an invitation or

proposal from a company to test drive vehicles or other type of action that

can be considered a personal benefit, you must communicate to the governing body

Seat Sub-seat SP Sub-seat DF

Rua Guandu, 155 – Teresópolis/RJ Rua Borba Gato, 331 - BL. G /193 SHN 5 - Block I - Without store 6

CEP 25963-620 São Paulo/SP – CEP 04747-030 Brasília/DF – CEP 70705-000

prior to acceptance. The governing body, in turn, will assess whether all associates

must be advised of such invitation or benefit;

b) Any situation that involves any member of the Board of Directors and that may configure

conflict of interest must be reported to the governing body. And it may be possible to

approval or not, including which may lead to the exclusion of such individual from the

directive. -

4) Institutional relationships:

a) Every company that seeks ABRAVEI for some institutional approach must

have their proposal analyzed by the governing body and, once analyzed, such proposal, being

approved or not, it must be communicated to the associates;

b) The institutional relationships that may be accepted or proposed by ABRAVEI to the

different sectors of the market, government and society may involve sponsorships,

donations, events, joint projects and other types of miscellaneous actions as long as they do not

there is co-option, exclusivity or any consideration that is not in the interests of the

associates. When the object of such an institutional relationship cannot be extended to all

associates, the governing body will define the criteria for participation of associates

interested. -

5) Conflict of interest:

a) All members of the Board of Executive Officers are obliged to inform the occurrence of

situation or circumstance that may characterize a conflict of interest.

b) The conflict of interest will be configured when the particular objectives interfere

in the evaluation and objectivity of a director in relation to ABRAVEI's social objectives. -

6) Fight against corruption:

a) ABRAVEI does not tolerate corrupt practices or bribery of any nature.

b) Associates or board members are not authorized to offer, promise,

make or provide, directly or indirectly, any undue advantage to agents

public authorities or any entity in the commercial or private sector.

c) the payment or offering of undue advantages to an agent is not allowed

public or any entity of the private sector with the intention of accelerating or favoring

the analysis of processes, including for obtaining licenses, authorizations, permissions

or any other measures of a regulatory or inspection nature.