Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao

Valid is headquartered in Rio de Janeiro, Brazil, and listed on the Brazilian Stock Exchange Bovespa under the symbol VLID3. Valid is mainly present in Latin and North America, serving major financial institutions and government agencies in the Smart Card industry. Valid's advanced information technology systems, capacity to print high security documents and long-term relationships with clients give it an unparalleled position in the Brazilian market. In 2014, Valid's net revenues amounted to approx. USD 350 million with an EBITDA of approx.