Inherent in our values is the importance of corporate governance. The Board of Directors of Mercado Libre Inc sets high principles for its employees, officers, and directors. It is the responsibility of the Board of Directors to oversee the management of the company’s business, and serve as a judicious fiduciary for shareholders. In order to fulfill these responsibilities, the Board of Directors follows the procedures and principles set forth in these guidelines. Such guidelines are subject to modification from time to time as the Board of Directors may consider appropriate as required by applicable laws and regulations, or in the best interests of the Company.