0.1. The number of Shares to be delivered to the Debenture holders on the Debenture Conversion Date will be the result of dividing the Par Value of the Debentures by the lesser of: (i) the weighted average, by daily volume, of the closing price of the Shares over the last 10 (ten) BM&FBOVESPA trading sessions as of the day after Issuance Date, with a discount of 25% (twenty five percent); or (ii) the weighted average by daily volume of the closing price of the Shares over the last 10 (ten) BM&FBOVESPA trading sessions prior to the receipt of the request for conversion by the Bookkeeping and Mandatary Institution or by the custody agent by BM&FBOVESPA, whichever is applicable, with a discount of 25% (twenty five percent) ("Conversion Price").