Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 324

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 16
Chunk 324
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 standards for Audit Committees

Under the NYSE and the SEC
listed-company audit committee rules, effective July 31, 2006, we must comply with Exchange Act Rule 10A-3, which requires us to either
establish an Audit Committee composed of members of the Board of Directors that meets specified requirements or designate and empower
a Fiscal Council or similar body to perform the role of an Audit Committee based on the exemption in Exchange Act Rule 10A-3(c)(3).

Pursuant to Central Bank
of Brazil regulations, we have established a body denominated Audit Committee, which performs nearly all of the functions of an Audit
Committee of a U. S. company. Of the three members of our Audit Committee, one member is also a member of our Board of Directors. Under
Brazilian law, the function of hiring independent auditors is a power reserved for the Board of Directors. As a result, our Board of Directors
acts as our Audit Committee, as specified in Section 3(a)(58) of the Exchange Act, for the purposes of approving the engagement of our
independent auditors for audit. Except in these respects, our Audit Committee is comparable to, and performs the functions of, an audit
committee of the Board of Directors of a U. S. company. Since our Audit Committee is not a committee of our Board of Directors, but a separate
body, as required under Brazilian law, we believe that our Audit Committee satisfies the requirements of Exchange Act Rule 10(a)(3). However,
based on the exemption set forth in Exchange Act Rule 10A-3(c)(3) the Audit Committee is a separate body from our Board of Directors and
in accordance with Central Bank of Brazil regulations, we believe that our Audit Committee is able to act independently in performing
the responsibilities of an Audit Committee under the Sarbanes-Oxley Act and to satisfy the other requirements of Exchange Act Rule 10A-3.

  226 – Form 20-F 2024 | Bradesco  

  Table of Contents  

16. E. Purchases of Equity
Securities by the Issuer and Affiliated Purchasers

The purpose of the program
of acquisition of shares to be held in treasury and to be subsequently disposed of or canceled, without capital reduction, is the application
of funds available for investments from the “ Profit Reserves - Statutory Reserve” account. This program authorizes the
acquisition of up to 106,584,881 nominative