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Abicalçados Brazilian Association of Footwear Industries (Associação Brasileira das Indústrias de Calçados)
ADENE Agency for the Development of Northeast of Brazil (Agência de Desenvolvimento do Nordeste)
AGBPar Alexandre G. Bartelle Participações S.A.
Additional shares Additional shares, equivalent to 15% of the shares initially offered, which may be sold by selling shareholders Alexandre Grendene Bartelle and Pedro Grendene Bartelle at the offering price within 30 days of the notice of commencement of this offering in Brazil, to cover overallotments
Adjusted EBITDA Gross profit less: (a) selling expenses, (b) general and administrative expenses and, (c) management fees plus: (x) equity pick‑up, and (y) tax benefits adjustments and (z) depreciation and amortization
Adjusted net income Net income adjusted for comparison purposes of different time periods
ANBID Brazilian National Association of Investment Banks (Associação Nacional dos Bancos de Investimento)
Austin Asis Austin Asis, an agency that provides market analysis and market reports
BACEN Central Bank of Brazil (Banco Central do Brasil)
Banco do Estado do Ceará or BEC State Bank of Ceará (Banco do Estado do Ceará S.A.)
Banco do Nordeste Bank of Northeast Brazil (Banco do Nordeste do Brasil S.A.)
B3 B3 S.A. - Brasil, Bolsa, Balcão (B3 S.A. - Brasil, Bolsa, Balcão)
BOVESPA São Paulo Stock Exchange (Bolsa de Valores de São Paulo)
Brazil The Federative Republic of Brazil (República Federativa do Brasil)
Brazilian corporation law Law 6,404/76, as amended
Brazilian GAAP Accounting practices adopted in Brazil
Brazilian government The government of the Federative Republic of Brazil
Brazilian underwriters Banco Pactual S.A. as sole global coordinator and bookrunner and Banco de Investimentos Credit Suisse First Boston S.A., Banco Santander Brasil S.A., Banco Bradesco S.A. and BB  Banco de Investimento S.A.
Broker Pactual Corretora de Títulos e Valores Mobiliários S.A.
CAGR Compound annual growth rate
CBLC Brazilian Clearing and Depositary Corporation (Companhia Brasileira de Liquidação e Custódia)
CDI Interfinance Deposit Certificate (Certificado de Depósito Interfinanceiro)
CEDIN State Council of Industrial Development of the state of Ceará (Conselho Estadual de Desenvolvimento Industrial do Estado do Ceará)
Closing Date Three business days from the date of publication in Brazil of the announcement of the commencement of the offering
CMN Brazilian National Monetary Council (Conselho Monetário Nacional)
Company or Issuer Grendene S.A.
Coverline Fabric impregnated with PVC and used as a raw material for the production of footwear
CVM Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários)
CVM Instruction No. 325/00 Instruction issued by the CVM dated January 27, 2000 (Instrução CVM No. 325/00)
CVM Instruction No. 400/03 Instruction issued by the CVM dated December 29, 2003 (Instrução CVM No. 400/03)
Datamonitor Datamonitor, an agency that provides market analysis and market reports
DECEX Department of Foreign Trade Transactions of the Brazilian Ministry of Development, Industry and Foreign Trade (Departamento de Operações de Commércio Exterior)
Ernst & Young Ernst & Young Auditores Independentes S.S.
EVA Ethylene Vinyl Acetate (Estireno Vinil Acetato). A thermoplastic copolymer of ethylene and vinyl acetate and a raw material in our production process
Exchange Act U.S. Securities Exchange Act of 1934, as amended
FDI Northeast Industrial Development Fund (Fundo de Desenvolvimento Industrial do Nordeste)
Federal Constitution Constitution of the Federative Republic of Brazil
Fitalse Fitalse S.A.
FNE Constitutional Fund for Financing the Northeast (Fundo Constitucional de Financiamento do Nordeste)
Grendene Calçados Grendene Calçados S.A.
Grendene Industrial Grendene Industrial de Calçados Ltda.
Grendene Negócios Grendene Negócios S.A.
Grendha Shoes Grendha Shoes Corporation
IBGE Brazilian Geography and Statistics Institute (Instituto Brasileiro de Geografia e Estatística)
IBRACON Brazilian Independent Auditors Institute (Instituto dos Auditores Independentes do Brasil)
ICMS Sales tax on operations relating to the provision of merchandise and services, or value added tax on sales and services (Imposto sobre Circulação de Mercadoria e Servicios)
IGP-M General Price Index - Market (Índice Geral de Preços ao Mercado)
Indústria de Calçados Grendene Indústria de Calçados Grendene Ltda.
INPI Brazilian National Institute of Industrial Property (Instituto Nacional de Propriedade Industrial)
IPCA Consumer Price Index, as calculated by the IBGE (Índice de Preços ao Consumidor Ampliado, apurado pelo IGBE)
International placement agents Pactual Capital Corporation, Santander Investment Securities, Inc. and Credit Suisse First Boston LLC
Novo Mercado The special listing segment of the BOVESPA with differentiated rules regarding corporate governance upon which the shares will be listed
PIB Gross Domestic Product (Produto Interno Bruto)
Placement facilitation and agency agreement Agreement entered into by us, the selling shareholders, Banco Pactual S.A., Banco de Investimentos Credit Suisse First Boston S.A., Banco Santander Brasil S.A. and the international placement agents related to the placement of shares outside Brazil
PROAPI Program of Incentives for the Port and Industrial Activities of Ceará (Programa de Incentivo às Atividades Portuárias e Industrias do Ceará)
PROVIN Program of Incentives for the Functioning of Companies (Programa de Incentivo ao Funcionamento de Empresas)
PVC Polyvinyl chloride, raw material produced by us from resin and used in the production of footwear
QIB Qualified institutional buyer, as defined under Rule 144A
Reebok Chile Reebok Chile S.A.
Regulation S Regulation S under the Securities Act
Rule 144A Rule 144A under the Securities Act
Saddle Calzados Saddle Calzados S.A.
Saddle Corp. Saddle Corporation Sociedad Anónima
SATRA SATRA Technology Center, an agency that provides market analysis and market reports
SEC U.S. Securities and Exchange Commission
Securities Act The U.S. Securities Act of 1933, as amended
Selling shareholders Alexandre Grendene Bartelle, Pedro Grendene Bartelle,Élida Lurdes Bartelle and Maria Cristina Nunes de Camargo
Stabilization agreement Agreement entered into by and among the selling shareholders, the Broker, Banco Pactual S.A. and us in connection with the stabilization of the price of the shares being offered
SUDENE Northeast Development Superintendency (Superintendência do Desenvolvimento do Nordeste)
TJLP Long‑term interest rates, as published by BACEN (Taxa de Juros de Longo Prazo)
Underwriter Banco Pactual S.A. as sole global coordinator and bookrunner
Underwriting agreement Agreement entered into by us, the selling shareholders, Banco Pactual S.A. and CBLC, relating to the secondary public offering of shares in Brazil
U.S. GAAP Generally accepted accounting principles in the United States
Verona Verona Negóciose Participações S.A.
VDA VDA Calzados y Artículos Desportivos S.A.
Vulcabrás Vulcabrás S.A.
Vulcabrás do Nordeste Vulcabrás do Nordeste S.A.