Letter from Company Founder and President

(G4-1, 2)
2015 will be forever remembered as the year when Copagaz celebrated its 60th anniversary. From the vantage point of these six decades, I gaze with pride at the road we've traveled, which began with the dream to provide my mother with the possibility of cooking on a gas stove, and resulted in the creation of one of Brazil's most solid companies in the liquefied petroleum gas (LPG) distribution industry, with a national presence. Transforming this dream into a reality mobilized lots of work, investment and ideas, and it's something that certainly deserves to be celebrated.

To uphold the standards we've achieved, I work each day to maintain the standing of Copagaz as a company that respects society, the law and the environment, staying strong and well-regarded in our industry, employing some 1,600 workers and creating a network of indirect employment at more than 2,600 dealerships scattered throughout all of Brazil. With this level of dedication, we have managed to make it one of the most sustainable companies in Brazil's retail sector, according to the publication Guia Exame de Sustentabilidade 2015.

It is true that this past year has been an intense one with no shortage of challenges. But it also brought tremendous opportunities that we have managed to make the most of, achieving a modest increase in our market share, in a period of acute difficulties in Brazil's economic and political situation.

In 2015, we also celebrated the inauguration of the Ibirité commercial operating unit, expanding the supply of LPG as well as the presence of Copagaz in the state of Minais Gerais, Brazil's second largest market. We have invested more than R$ 26 million in this unit, the most up-do-date of all our facilities, with management processes that align with the requirements of sustainability. None of these achievements would have been possible without the commitment of our staff here at Copagaz, of our dealership network, and of our consumers.

We remain committed and alert to global challenges such as climate change and environmental recovery, which cannot be separated from socio-economic problems, we believe, if Copagaz is to remain sustainable on behalf of its shareholders, partners and the societies in which we operate.

It is therefore with great pride that we are publishing another Sustainability Report, sharing with our stakeholders the results of our activities in 2015, and strengthening Copagaz' commitment to the principles of the United Nations Global Compact. We will continue our work, always with satisfaction, cultivating the hope that the coming years will be as rich and full of challenges as the past 60, and that we will keep our sights set on growth and making our dreams a reality.

Happy reading!

Ueze Elias Zahran
PRESIDENT OF COPAGAZ