Councils, Committees and Statutory Board

Board of Directors

The Board of Directors of LOG Commercial Properties is responsible for defining the strategic policies of the Company in general and, among other attributions, for establishing its general business policies and for electing its Executive Officers and for supervising their management.

The Board of Directors meets once every three months and, extraordinarily, whenever convened by its Chairman or any of its members.

In accordance with Brazilian Corporate Law, the Board of Directors shall consist of at least 3 board members elected at the General Assembly, each of whom may be shareholders or not. The Bylaws of LOG Commercial Properties, notwithstanding, determines that the Board of Directors may be composed of up to 7 members, whose mandates will be unified and will last for 2 years from the date of election and they may be reelected.

Executive Officers

The Executive Officers of LOG Commercial Properties are responsible for its daily management. They have individual responsibilities established by the Bylaws of the Company and its Board of Directors.

In accordance with the Bylaws of LOG Commercial Properties, the board may have up to three officers elected by the Board of Directors for a term in office of one year, reelection is permitted. Any officer may be removed by the Board at any time before the expiration of his/her term in office.

Fiscal Council

Pursuant to the Brazilian Corporate law, the Fiscal Council is an independent management body from the Company and external auditors. The Fiscal Council may be permanent or non-permanent, in which case it will act during a specific fiscal year when installed at the request of shareholders in the manner and conditions prescribed by law.

The main responsibilities of the Fiscal Council are to audit the management of the Company, review the financial statements of the Company and report its findings to the shareholders. The Brazilian Corporate Law requires Fiscal Council members to receive compensation of at least 10% of the average annual amount paid to directors of the Board. Brazilian Corporate Law also requires that the Fiscal Council should be composed of at least three and at most five members and their alternates.

The Bylaws of LOG Commercial Properties provides for a non-permanent Fiscal Council, composed of up to three members, elected only at the request of the shareholders of the Company in the general assembly. Currently, LOG Commercial Properties has a Fiscal Council installed.

Committee

The Board of Directors of LOG Commercial Properties has established four internal committees. The Audit and Finance committees were created at a meeting held on October 4, 2011. The Compliance Committee, in turn, was instituted on December 16, 2018. The Human Resources committee was instituted on January 31, 2020. They have the purpose of advising and proposing solutions to increase the effectiveness of their decisions.