

| TOTVS SA | 25/03/2009 AGM | |
|---|---|---|
| 1 | Approve the financial statements | Oppose |
| 2 | Resolve on the allocation of net income and distribution of dividends | For |
| 3 | Establish annual global compensation for members of the supervisory and executive board | Oppose |
| 4 | Change the circulation newspapers in which the company publishes its announcements | Abstain |