NATURA &CO HOLDING S.A.

CNPJ/ME No.

Publicly Held Company

NIRE 35.3.0053158-2

32.785.497/0001-97

MINUTES OF THE BOARD OF DIRECTORS' MEETING

HELD ON SEPTEMBER 30, 2020.

  1. Date, Time and Place: On September 30, 2020, at 9 a.m., by conference call.
  1. Call Notice: Waived due to the attendance, by conference call, of all members of the Board of Directors, under paragraph 2, article 15 of the Bylaws of Natura &Co Holding S.A. ("Company").
  1. Quorum: All members of the Company's Board of Directors attended, namely: Guilherme Peirão Leal, chairman of the meeting and co-chairman of the Board of Directors; Antônio Luiz da Cunha Seabra, co-chairman of the Board of Directors; Pedro Luiz Barreiros Passos, co-chairman of the Board of Directors; Roberto de Oliveira Marques, executive chairman of the Board of Directors; Gilberto Mifano, independent board member; Carla Schmitzberger, independent board member; Fábio Colletti Barbosa, independent board member; Jessica DiLullo Herrin, independent board member; Ian Martin Bickley, independent board member, Nancy Killefer, independent board member, W. Don Cornwell, independent board member, and Andrew George McMaster Jr., independent board member. Mr. Moacir Salzstein, secretary, was also present.

IV. Presiding Board: Mr. Guilherme Peirão Leal chaired the meeting, and invited Mr. Moacir Salzstein to act as secretary.

  1. Agenda: under the terms of Article 20, XI, of the Company's Bylaws, to resolve on:
  1. the approval of the terms and conditions of the Lon-Term Investment Plan 2020 ("LTIP 2020"), within the scope of the Long-Term Investment Program approved at the Company's Extraordinary
    General Meeting held on December 13, 2019 ("LTIP");
  2. the approval of the list of participants and the number of grants granted to each participant, for the LTIP 2020;
  3. the approval and authorization for the settlement of grants to nonresident participants under the other Company Programs through the delivery of American Depositary Receipts (ADRs); and
  4. authorization to the Company's Board of Officers to take all necessary measures to implement the resolutions approved in this meeting.

VI. Resolutions: after having discussed the matters included in the agenda, the members of the Board of Directors unanimously and without any reservation approved:

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  1. the terms and conditions of the LTIP 2020, which final version was authenticated by the presiding board and will be filed at the Company's headquarters;
  2. the list of participants and the number of grants granted to each participant, within the scope of the LTIP 2020. The Exhibit Icontains a list of the consolidated number of grants under the LTIP 2020. The list of individual grants granted to each participant within the scope of the LTIP 2020 was duly approved by the members of the board of directors, authenticated by the board and will remain filed at the Company's headquarters;
  3. the approval and authorization for the settlement of grants to nonresident participants under the other Company Programs through the delivery of American Depositary Receipts (ADRs); and
  4. the authorization to the Company's Board of Officers to, upon the accomplishment of all the conditions applicable to each of the resolutions, take all necessary measures to implement the resolutions approved herein.

The board member Roberto de Oliveira Marques, pursuant to article 156 of Law No. 6,404 / 76, informed the board members of his impediment and abstained from participating in the deliberation of item 1 of the agenda, as well as with relation to the resolution of item 2 regarding the grants granted to him, in view of being a beneficiary of such plan and corresponding grants.

VII. Adjournment: The Chairman thanked everyone for being present and declared the meeting adjourned, but first suspended the meeting so that these minutes could be drafted, which, after being read, discussed and found to be in order, were approved, according to votes cast by email and signed by the presiding board and by the attending board members.

São Paulo, September 30, 2020.

I hereby certify that this is a true copy of the Minutes drawn up in the proper book.

_____________________________

Moacir Salzstein

Secretary

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EXHIBIT I

TOTAL AMOUNT OF GRANTS IN THE CONTEXT OF THE LTIP 2020

Total Amount of Grants

LTIP 2020

5.134.800

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Natura & Co Holding SA published this content on 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2020 23:34:05 UTC