1

Corporate Presentation

Disclaimer

� This presentation may contain forward-looking statements. Such forward-looking statements are and will be subject tomany risks and uncertainties relating to factors that are beyond Direcional’s ability to control or estimate precisely, suchas future market conditions, competitive environment, currency and inflation fluctuations, changes in governmental andregulatory policies and other factors relating to the operations of Direcional, which may cause actual future results ofDirecional to differ materially from those expressed or implied in such forward-looking statements

� You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date ofthis presentation. Such forward-looking statements shall not be construed as guarantee of future performance.Direcional does not undertake to publicly review or update these forward-looking statements in view of events or

2

Direcional does not undertake to publicly review or update these forward-looking statements in view of events orcircumstances occurring after the date of this presentation

� This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase anysecurities. Neither this presentation nor anything contained herein shall form the basis of any contract or commitmentwhatsoever

� This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated inwhole or in part without Direcional’s prior written consent.

652

2,227

5,359

9,360

12,364

� Start-up in 1981

� Industrial projects acting

as contractor to third

partiesIPO

Over 30 Years of History

A consistent track record and focus

� Capture

significant

market

opportunities

� MCMV II

� Follow-on: $

228.8 million for

What’s Next?

CAGR 06-10: 109%

CAGR 06-10: 100%

67

176

710783

1,067

� Development of projects

focused on the low-

income market

parties

� Beginning of

large scale

developments

for the low-

income market

� Operations

expansion to

PA, RO and ES

IPO � 32% growth in

units launched

from the

previous year

� 57% growth in

contracted PSV

from the

previous year

3Source: Company Reports

Units Launched

� Consolidation

of a leading

position in

Manaus and

Brasilia

� Establishment

of own sales

team

� Important geographic

expansion: Brasília, Rio

de Janeiro and Campinas

1981 - 2005 2006 2007 2008 2009 2010 2011

228.8 million for

the Company

� Increasing

liquidity

PSV Launched (R$ mm)

67

Management Team

Ricardo Valadares Gontijo

Chairman & CEO

Ricardo Valadares Gontijo

Chairman & CEO

• Founder, CEO and Chairman of the Board40 years of construction experience• Civil Engineer graduated by UFMG with Gold Medal Award.

Ricardo Ribeiro Gontijo

Commercial Officer

Ricardo Ribeiro Gontijo

Commercial Officer

Roberto Senna

General Manager

Roberto Senna

General Manager

• Civil Engineer degree from The Federal University of Bahia- UFBA, MBA degree from FundaçãoGetulio Vargas, FGV, and specialization courses at the Wharton School- University of Philadelphia, andUniversity of Carlifornia- Irvine.• Joined Odebrecht Group in 1979 and has held senior management positions in Brazil and abroad• He was President of Metro-Rio, Director of Telemar Holding and member of the Board of severalcompanies of the group.• He was CEO of Bairro Novo, a real estate subsidiary from Odebrecht Group, focused on residentialdevelopment and construction in the low income

•Board Member and responsible for Marketing, Sales and New Business•Civil Engineer graduated by UFMG with the Gold Medal Award•Joined Direcional in 2004.

4

Commercial OfficerCommercial Officer

Carlos Wollenweber

CFO & IR Officer

Carlos Wollenweber

CFO & IR Officer

Lucas Rocha

Engineering Officer

Lucas Rocha

Engineering Officer

Ana Carolina Huss

Human Resources Officer

Ana Carolina Huss

Human Resources Officer

•Joined Direcional in 2004.

•Extensive experience in the Brazilian real estate market.•From 2007 to 2009, Controller of BR Properties•From 2005 to 2007, Financial Director of Valora•From 2001 to 2005, Financial Manager of Gafisa•Electrical Engineer graduated by PUC / SP has master degree in Economics and Finance at PUC / SPand MBA degree at MIT (Massachusetts Institute of Technology)

•Responsible for the engineering department with more than 30 years of experience in construction•Holds a bachelor’s degree in Civil Engineering•Joined Direcional in 1985

• Psychologist, graduated at University Paulista, MBA in Business Management, post graduate inKnowledge Management at FVG and certified in Bright Link in professional coaching• Human Resources Manager at Natura Cosméticos and Accor Brasil• Responsible for the department ¨People and Organization¨ of the Bairro Novo, a company of theOdebrecht group.

Shareholder’s Structure

47.01% 15.04%

FiladélphiaParticipações S.A. 1 Ridgecrest, LLCTarpon2 Other

6.91% 24.52%

GIC

6.52%

51. Holding owbed by Ricardo Valadares Gontijo and his family2. Funds managed by Tarpon Investimentos S.A.

6

Business Model

6

Unique Footprint� Strong footprint in markets with high growth potential, low

competition and high barriers to entry

Low competition in profitable markets

Direcional: A Unique Business Model

The best low-income player in Brazil

The most profitable and efficient player in the low income

sector

‘’’’‘

� Highest efficiency and profitability in the sector

1st Annualized ROE¹ among peers~25,8% of ROE

~22,6% of Net Margin1st Net margin among peers

1

profitable markets

Track Record in Operating in the

Low Income

� Over 30 years of experience� Solid track record in 0-3 minimum wages projects

Low capital commitment, solid

margins and high ROIC

Focus on Large Scale Projects

Verticalized Business Model

� Strong expertise in large scale ventures

� Own work force� Performance-based compensation� Standardized and industrialized production on-site

Large scale operations in the low income

segments, with strict cost control and high

margins

7Source: Company Report1. Annualized ROE: Annualized Quarter´s Net Profit / Average Shareholders' Equity in the same period

2

3

4

Unique Footprint: High Growth Markets with Barriers to Entry

Land Bank Composition Barriers to Entry

� Detailed mapping of logistics and supply

Scarcity of

Suppliers

� Industrialization of raw materials

� Vertically integrated model is rapidly replicated

Direcional's Approach

1

Direcional is the leading company in underpenetrated markets with high growth potential

AM8.7%

RO4.2%

PA13.3%

8

Complex

Logistics

� Detailed mapping of logistics and supply channels

� Large and vertically integrated projects

Adverse

Weather

Conditions

� Pre-manufactured building materials adapted to diverse climates

� Expertise in coordinating construction cycle and weather demands

Unskilled

Labor

� Highly-trained workers

� Standardized and fully-integrated construction

� Compensation based on performance

1

ES1.1%

MG39.5%

SP3.4%

DF27.6%

RJ2.2%

Popular;

79,9%

Upper

middle; 1,7% Medium;

17,2%

Commercial;

1,3%

“Minha Casa, Minha Vida”

• 50.2 thousand units eligible for the program

• 74.6% of total LandBank

Source: IBGE and Company Report1. Based on 4Q10 Release

Focus on Large Scale Projects …

Strong and unique expertise in large scale ventures

2

Large Scale Projects

Project StatusTotal of

unitsUnits to belaunched

Main Advantages of Scale

� Economies of Scale

� Industrialization process of raw materials

Manaus Total Ville AM Under construction

Total Ville Bella Cittá PA Under construction

Total Ville Marabá PA Under construction

Allegro Residencial Club AM Under construction

Setor Total Ville DF Under construction

Total Ville Porto Velho RO Under construction

Dream Park ES Under construction

Eliza Miranda AM Under construction

3,640 2,136

4,714 3,732

5,604 4,664

1,648 704

5,088 2,480

2,852 1,868

1,034 752

����

����

����

����

����

����

����

����

9Source: Company Report1. Projects with more than 1,000 units

� Optimize construction processes

� Urbanized projects

���� Licensed Projects

Lower Execution Risk

Lower Inflation Risk

Eliza Miranda AM Under construction

Cachoeiras do Madeira RO Under construction

Águas Claras DF Launching in 1H11

Granjas Werneck MG Launching in 2H11

Floramar MG Launching in 1H11

Samambaia DF Launching in 1H12

Projeto Macaé RJ Under construction

Sítio São João MG Launching in 2H11

Ferroeste MG Launching in 2H11

Total

80.8% of the units to be launched in large scale projects1

16 projects with close to 65 thousand units

2,112 128

1,278 426

1,148 1,148

15,000 15,000

1,172 1,172

14,614 14,614

1,125 719

2,500 2,500

2,388 2,388

65,917 54,431

����

����

����

… Through a Verticalized Business Model

More than 8,000 exclusive workers assuring quality, commitment, efficiency and cost control

Verticalized Business Model Ability to Deliver

3

Best Execution in the SectorBest Execution in the Sector

Construction DNAConstruction DNA

Own Work Force

VerticalizationVerticalization

Standardized / Industrialization

10

� Performance Based Compensation

� Capacity to Hire and Train Operational Team

� Lower Turnover

Source: Company Reports

On Schedule:100% of Projects Delivered

on Time

With High Quality: Lower Maintenance Cost

On Budget: Margin Stability

Own Work ForceIndustrialization

� Economies of Scale

� All projects are based on few designs

Unique Expertise in the Low Income Segment

Solid track record in all the low income segments

Characteristics

� Developer approach

Companies develop projects and sell units to customers

� Price above R$170 k / unit

� CAIXA does not facilitate customer financing

� Developer approach

Companies develop projects and sell units to customers

� Price is capped at R$170 k / unit

� CAIXA facilitates customer financing

� Builder approach

Homebuilders present projects to Caixa for evaluation and approval

� Normally land/infrastructure is given by local Government

� Price is capped at R$54 k / unit

4

Mid / Low Income Low Income (MCMV – 4-10 MW) Very Low Income (MCMV – 0-3 MW)+ +

111. Company estimates – maximum cash exposure in % of total VGV

Main Players

Equity Commitment1

Units Launched2010

~5%~15%~20% ~10%

60% / 7,391 units12% / 1,503 units 28% / 3,470 units

PSV Launched2010

36% / R$ 380 mm35% / R$ 245 mm 29% / R$ 441 mm

Top Notch Operational Performance

Direcional has been confirming its efficient cash cycle with sound financial results

Efficient Cash Cycle Highest Results in the Sector

Land

AcquisitionSales

Speed

Land

AcquisitionSales

Speed

38% VSO80% Swaps

19%

24%

MRV

PDG

Helbor

12

Efficient CashCycle

ManagementCash

Collection

Austere

Budget

Client

Financing

Construction

Financing

Cash

Collection

Austere

Budget

Client

Financing

Construction

Financing

Avg. Unit Selling Price

Net

Mar

gin

2010

Source: Company Reports

80-100% of

construction

cost

G&A of 6%

of Revenues

4%

9%

14%

- 150.000 300.000 450.000

CCDI

Rodobens

PDG

Even

Inpar

Cyrela

Tecnisa

Rossi

Trisul

Gafisa

13

Growth Drivers

13

MCMV Program Highlights

� The largest housing program of the Brazilian history

� First Priority of the New Government and currently at full speed with Dilma’s recent election

� The 0-3 segment has expanded three-fold, reaching

600.000

200.000

BRL 34 billion

BRL 72 billion

2.000.000 uniits

4-6

Wages

7-10

Wages

Growth Drivers: MCMV 2nd Phase

0-3 segment presents an outstanding growth opportunity

� The 0-3 segment has expanded three-fold, reaching 1.2 million units

� The regional distribution of the program should benefit Direcional

400.000

1.200.000400.000

200.000

Phase 1 Phase 2

0-3

Wages

14

Total

(R$'000)

% Direcional

(R$'000)

Residencial meu Orgulho - 1ª Fase * Junho Manaus -AM 190.598 190.598 3.511

Bairro Carioca Outubro Rio de Janeiro - RJ 114.240 114.240 2.240

Residencial Jardim Alterosa Dezembro Belo Horizonte - MG 75.440 75.440 1.640

Total 2010 380.278 380.278 7.391

2010 ProjectsLaunch

DateCity - State

PSV

Nr. of

Units

Growth Drivers: Selective Geographic Expansion

Direcional operates in Brazil’s most complex markets and expects to replicate this model in new attractive areas

Development of 0-3 MW Projects

Geographic Expansion Strategy New Sites Selection Criteria

High Housing Demand

Access to Credit Lines

15

Immediate gain of market share and visibility

New projects leveraging on our unique business model

Access to Credit Lines

Operational Complexity & Region Expertise

Land Availability

16

4Q10 - Operating and Financials Highlights

16

Launches

� 5,193 units were launched in 4Q10, totaling a PSV of R$ 415 million (% Direcional)� 12,364 units were launched in 2010, totaling a PSV of R$ 1,067 million (% Direcional)

Launched PSV - % Direcional

(R$ million)

Launches (Units)

1,067

36%

413%

12,364

32%

498%

17

81 415

783

1,067

4Q09 4Q10 2009 2010

868

5,193

9,360

12,364

4Q09 4Q10 2009 2010

Total

(R$'000)

% Direcional

(R$'000)

1 Bairro Carioca Outubro Rio de Janeiro - RJ 114,240 114,240 2,240 0-3 SM

2 Eliza Miranda Mall Novembro Manaus - AM 22,391 8,956 158 Popular

3 Vila Verde Novembro Belo Horizonte - MG 87,086 86,999 440 Médio

4 Parque Ponta Negra - JHSF Novembro Manaus - AM 218,814 87,525 545 Médio-alto

5 Villagio Harmonia Dezembro Porto Velho - RO 41,708 41,666 170 Médio

6 Residencial Jardim Alterosa Dezembro Belo Horizonte - MG 75,440 75,440 1,640 0-3 SM

559,679 414,827 5,193

4Q10 ProjectsLaunch

DateCity - State Segment

Units #

LAUNCHES 4Q10

PSV

Launches Breakdown

Launches

(Segment Breakdown)

Launches

(Geographic Breakdown)

56.0%

17.0% 13.0%

50.0%

44.0%

12.0%

11.0%83.0%75.0%

39.0%

4Q09 4Q10 2009 2010

74.7%

39.0%

59.8%

100.0%

3.0%

40.0%

28.1%

11.7%20.0% 5.1%

10.5%1.0% 7.0%

4Q09 4Q10 2009 2010

18

Vila Verde Parque Ponta NegraEliza Miranda Mall

Villagio Harmonia

Bairro Carioca

Jardim Alterosa

4Q09 4Q10 2009 2010

North Mid-west Southeast

4Q09 4Q10 2009 2010

0-3 MW Popular Medium Upper Middle

Sales

Contracted PSV - % Direcional (R$ million) Contracted Units

� In 4Q10 we sold 5,341 units with total PSV of R$ 406 million (% Direcional)� In 2010, we sold 12,359 units with total PSV of R$ 1,037 million (% Direcional)

406

661

1037

57%

196%

5,341

7,824

12,359

58%

383%

19

Sales (Geographic Breakdown) Sales (Segment Breakdown)

137

4T09 4T10 2009 2010

1,106

4T09 4T10 2009 2010

64.2%

10.1%

79.7%

46.4%

28.1%

6.6%

7.7%

12.6%

7.7%

83.3%

12.6%

41.1%

4Q09 4Q10 2009 2010

North Mid-west Southeast

46.0% 41.4%

67.1%

48.5%

34.8% 38.4%

28.6%

43.3%

15.7% 16.2%

4.3%8.2%

3.5% 4.0%

4Q09 4Q10 2009 2010

0-3 MW Popular Medium Upper Middle

36.0%38.3%

20.5%

24.2%

19.4%20.8%

27.6%

4Q09 1Q10 2Q10* 3Q10 4Q10*

With 0-3 MW projects Without 0-3 MW projects

Sales Speed

� Sales Over Supply of 38.3% in 4Q10;

� 49% of 4Q10 launched units are sold in 4Q10

� In 2010 we launched 12,364 units and sales 12,359 units

Sales Over Supply (VSO)

PSV % Direcional

Sales Speed (%)

(# of units)

14%

17%

89%

17%

49%

38%

19%

4%

27%

31%

7%

3%

12%

5%

3%4Q09

1Q10

2Q10

3Q10

4Q10

3M 6M 9M 12M 15M

44%

96%

48%

98%

49%

4Q09 1Q10 2Q10* 3Q10 4Q10*

20

(# of units)

Total % Direcional

Launches 4Q10 209,851 120,111 665 665 50.6%

Launches 3Q10 100,151 90,364 1,020 951 55.3%

Launches 2Q10 70,985 70,606 184 153 3.7%Launches 1Q10 86,519 77,623 669 622 51.0%

Inventory

PSV in Inventory (R$'000)Units in

Inventory

Units in

Inventory

(without swap)

% Units in Inventory

Inventory

� PSV of R$ 598 million (% Direcional) , representing 4,697 units;� Completed units of R$ 14.9 million (% Direcional) , representing 201 units;� Projects under construction have an average of 83.5% units comercialized

Stock (market value) @ 12/31/2010

Launches 1Q10 86,519 77,623 669 622 51.0%Launches 4Q09 1,821 1,728 17 17 2.0%Launches 3Q09 98,396 87,336 759 536 12.6%Launches 2Q09 25,745 22,054 249 134 4.5%Launches 1Q09 30,006 26,046 213 197 20.7%Launches 4Q08 64,772 47,403 339 260 21.5%Launches 3Q08 26,986 21,319 231 97 6.4%Launches 2Q08 5,755 5,381 67 13 1.8%Launches 1Q08 10,793 9,561 44 26 2.7%Previous launches 6,682 3,606 39 13 2.3%Under Construction 738,462 583,137 4,496 3,684 16.5%

Finished Units 36,986 14,887 201 200 4.5%

Total Inventory 775,448 598,024 4,697 3,884 14.5%

21

Only 4.5% of ourinventory are fromfinished units

Delivered Units in 4Q10

Completed Projects - 4Q10 City - State UnitsTotal PSV

(R$'000)

Direcional PSV

(R$'000)Segment

Grand Prix Manaus - AM 192 42,026 36,983 Medium

Paradiso Club Taguatinga - DF 358 61,111 59,950 Medium

Paradiso Uno Taguatinga - DF 42 10,156 9,963 Medium

Maura Valadares Belo Horizonte - MG 72 30,479 18,755 Upper Middle

Le Parc de France Belo Horizonte - MG 36 10,155 9,962 Medium

Al Mare Macaé - RJ 172 29,585 14,792 Medium

Vivere Campinas - SP 88 34,746 17,373 Upper Middle

Total 960 218,258 167,778

22

Grand PrixParadiso Club Al MareParadiso Club Le Parc de France

25 51 85 176

21.7%19.3%

22.5%22.6%

4Q09 4Q10 2009 2010

Adjusted Net Income Adjusted Net Margin

102%

107%

Financial Performance

Net Revenues Adjusted Net Income and Adjusted Net Margin1

116 263

378

782

4Q09 4Q10 2009 2010

128%

107%

Adjusted Net Income Adjusted Net Margin

63.4 102.3 263.2 377.6 781.9

24.0% 21.1%24.5% 22.5% 22.6%

2006 2007 2008 2009 2010

Net Revenue Net Margin

231. Adjusted by non-cash expenses (Stock-Option Program of R$ 2,7 million in 4Q10 and R$ 9,9 million in 2010).

CAGR: 87.4%

Development,

85.5%

Management

Fee, 1.1%

0-3 MW

Projects, 12.9%Brokerage, 0.5%

Gross Revenue Breakdown Net Revenue and Net Margin Evolution

40 79 127 248

35.0%29.9%

33.7% 31.7%

4Q09 4Q10 2009 2010

94%

95%

8.7

17.4 21.8

50.0

4Q09 4Q10 2009 2010

Financial Performance

Gross Profit and Gross Margin Adjusted G&A ¹ (R$ million)

7,5%6,6% 5,8% 6,4%

% RevenueGross Profit Gross Margin

4.3 6.2

15.3

20.0

4Q09 4Q10 2009 2010

4Q09 4Q10 2009 2010

24

Adjusted EBITDA and Adjusted Ebitda MarginCommercial Expenses (R$ million)

2,7%1,3% 1,9% 1,6%

% Revenue

% Sales

31 65 106 202

26.9%24.7%

28.0% 25.8%

4Q09 4Q10 2009 2010

Adjusted Ebitda Adjusted Ebitda Margin

109%

91%

1. Adjusted by non-cash expenses (Stock-Option Program of R$ 2,7 million in 4Q10 and R$ 9,9 million in 2010).

Cash Position

Loans and Financing

(ex- securitization)

Cash Position 4Q09 3Q10 4Q10 ∆∆∆∆ % ∆∆∆∆ %

(R$'000) (a) (b) (c) (c/a) (c/b)

Loans and Financing 123,298 245,724 302,374 145% 23%

SFH 108,056 184,243 226,056 109.2% 22.7%

Securitization of receivables 13,109 53,097 46,843 257.3% -11.8%

FINAME and others 2,133 8,384 8,882 316.4% 5.9%

Working Capital 0 0 20,593 100.0% 100.0%

Cash and Cash Equivalents 313,881 235,075 190,852 -39.2% -18.8%

Net debt -190,583 10,649 111,522 -158.5% 947.3%

Net debt - ex securitization -190,583 -43,665 57,208 -158.5% -231.0%

Net debt / Shareholder's Equity -29.0% 1.4% 14.1% -148.5%

SFH, 88.5%

FINAME and Leasing, 3.5%

Working Capital, 8.1%

251. Cash Burn: variation of the net debt (-) equity increases 2. 2Q10 * : adjusted by co-obligation in the securitization of receivables, amounting R$ 54.3 million

Amortization Schedule (R$ million) Cash Burn¹ (R$ million)

Net debt / Ebitda -1.8x 0.1x 0.5x

13

45

28 27

15

2522

33

41

19

86

101

54

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10* 3Q10 4Q10*

122

59

102

20

2011 2012 2013 +2014

Cash Burn¹ (R$ million)

Unearned results (R$'000) 4Q09 3Q10 4Q10 ∆∆∆∆ % ∆∆∆∆ %

(a) (b) (c) (c/a) (c/b)

Deferred revenues 579.201 673.976 740.269 27,8% 9,8%

Deferred costs -340.385 -395.440 -424.802 24,8% 7,4%

Deferred results 238.816 278.536 315.467 32,1% 13,3%

Deferred results - Margin 41,2% 41,3% 42,6%

Estimated schedule for deferred results apropriation 2011 2012 2013+

50,2% 39,2% 10,6%

Unearned results

26

Results Recognition Schedule

50.2%

39.2%

10.6%

2011 2012 2013+

Subsequent Event : Follow-On

� 20.8 million new shares were issued in the primary offer and 7.2 million sold in the secondary offering� Increased the free float from 39.5% to 53.0%.

Before Follow On After Follow On

Tarpon,

15.0%

Ridgecrest,

8.0%GIC, 3.6%

Other,

12.9%

Tarpon;

Ridgecrest;

6,9%

GIC; 6,2%

Other;

24,8%

224

1,416

86

228

12/30/2010 02/10/2011

Total # of Shareholders

Jurídical Person

Individual

430%

27

600.9

3,901.2

Average Daily Volume - (R$`000)

549%

Dec/2010 Feb/2011

Controlling,

60.5%Controlling;

47,0%

Tarpon;

15,0%

28

Appendix

28

Rising Income

▲ Basic Goods Basket

▲ Real Minimum Wage

▲ Average Wage (Monthly)

HOUSEHOLDS’ DISPOSABLE INCOME (Jan/03 – Aug/10)

Emerging Class C

EMERGING CLASS C (1)

(% households, 2003 – 2009)

Positive Job Market Trends

Poised to Capitalize on Soaring Demand

+ +

Brazil’s social upward mobility has favored the sector

500

600

115

120

‘04-’10 EMPLOYMENT GROWTH(%, Jan/04 – Nov/10)

50%

58%

27%

38%

5.7%

3%

5%

7%

9%

11%

13%

15%

Jan-04 Aug-05 Apr-07 Nov-08 Jul-10

29

� The steady increase of household disposable income, along with a higher availability of housing credit, drives the search for new homes

� 29 million individuals entered the class C income segment in the last 6 years, and 18 million are expected to join it in the next 5 years

Source: FGV (A Nova Classe Média: O Lado Brilhante dos Pobres), DIEESE, IPEA and McCann Erickson do Brasil1. Households earning R$1,126 to R$4,854 per month.

0

100

200

300

400

Jan-03 Nov-04 Sep-06 Aug-08 Jun-10

90

95

100

105

110

2.2x

1.8x

Jan/04 – Nov/10 %

Min 5.7%Max 13.1%Nov/10 5.7%

Average of 12M 6.9%

UNEMPLOYMENT RATE(%, 12-month moving average)

37%

2003 2009 2014

66mm 95mm+29mm

113mm+18mm

-3%Total Formal Informal

Corporate Governance

Board of Directors

Shareholderes► Own Governance Standards

► Nominate Members to the Board of Directors

Advisory Committees

► Nominated by the Board of Directors

► Not deliberative

Investment Committee

Finance Committee

Compensation Committee

► Fixed Assets

► Diversification

► Mergers and Acquisitions

► Cash Management Policies

► Capital Structure

► Risk Management

Board of Executive Officers

Operations

Not deliberative

► Bi-monthly meetings or ad-hoc

Deliberative Committees

► Board of Directors + Directors + Guests

► Monthly meetings or ad-hoc

Committee

Investment Committees

Engineering Committee

Human Resource

Committee

► Land bank purchases

► Launchings

► Pre-budget approval (release)► Approval of budget and

planning (beginning work)

► Performance Valuation

► Variable Compensation

30

Company Structure

Engineering/Construction

Detailed Design

Health, Safety & Environment

AdministrativeSupport

Quality/Technology

AM

DF,PA,RO

MG,ES

SP,RJ

CFO / IRHR Budget/Supply/

Planning

Sha

reho

lder

sC

lients

31Source: Company

Development / Commercial

Viability Studies

Market Support/Sales

Conceptual Design /Products

Legal (Real Estate)

AM

Special Projects (“0 – 3”)

President CEO

Legal(Corporate)

Comunic. & Market. Corp.

Sustainability/Customer

Relationship

Guidelines

Results

Sha

reho

lder

s

MG,ES

DF,PA,RO

SP,RJ

Clients

Contatos

Carlos WollenweberCFO | IR Officer

Lucas BousasIR Analyst

32

IR Analyst

Paulo SousaIR Assistant

www.direcional.com.br

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