• A

    Anchor Stores - Refers to large, well-known stores in its shopping centers that serve as the primary attraction to the consumers in each shopping center, and are intended to ensure a constant flow of consumers in all areas of its shopping centers.

    Arbitration Chamber - Market Arbitration Chamber established by the Bovespa for resolution of disputes between companies and its investors.

  • B

    BR GAAP - Accounting practices adopted in Brazil, or Brazilian GAAP or Brazilian Corporation Law.

    Bovespa - São Paulo Stock Exchange (Bolsa de Valores de São Paulo).

  • C

    CBLC - The Brazilian Settlement and Custodial Company (Companhia Brasileira de Liquidação e Custódia).

    CVM - The Brazilian Securities Commission (Comissão de Valores Mobiliários).

    Company or BRMALLS - Refers to BRMALLS Participações S.A.

  • E

    EBITDA - EBITDA means operating income plus depreciation and amortization plus net financial results.

    ECISA- ECISA Engenharia and ECISA Participações.

  • G

    GDR or GDRs- Global Depositary Receipt.

    GDS or GDSs- Each GDS will represent two shares and will be evidenced by a global depositary receipt, or GDR. The depositary for the GDSs is JPMorgan Chase Bank. The GDSs offered pursuant to Rule 144A will be evidenced by Rule 144A GDRs issued pursuant to the Rule 144A deposit agreement. The GDSs offered pursuant to Regulation S will be evidenced by Regulation S GDRs issued pursuant to the Regulation S deposit agreement. The units represented by GDSs will be deposited with Banco Itaú, as custodian for the depositary in Brazil. Payment for the GDSs may be made only in U.S. dollars.

    Gross commercial area or "GCA" - Refers to the sum of all commercial areas of shopping centers, which includes the gross leasable area and other commercial areas owned by third parties.

    Gross leasable area or "GLA"- Refers to the sum of all areas in shopping centers that are available for lease, except for kiosks. BRMALLS calculates its own gross leasable area by subtracting from gross commercial area the areas in shopping centers owned by third parties.

  • R

    Real, Reais or R$- Refers to the Brazilian real, the official currency of Brazil.

    Regulation S- Rule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to institutional and other investors outside the United States and Brazil that are not U.S. persons.

    Rule 144A- Rule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to qualified institutional buyers of the United States.

  • S

    SEC- Securities and Exchange Commission.

  • U

    U.S. dollar, U.S. dollars or US$- Refers to U.S. dollars.