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NATURA COSMÉTICOS S.A.
CNPJ/MF nº 71.673.990/0001-77
Publicly Held Company
NIRE 35.300.143.183
MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS HELD ON
JANUARY 10, 2012

On January 10, 2012, at 2:00 p.m., at the Company's registered office located in the
City of Itapecerica da Serra, State of São Paulo, at Rodovia Régis Bittencourt, s/nº, Km
293, Edifício I, met the majority of the members of the Board of Directors of NATURA
COSMÉTICOS S.A.
, and Mr. Pedro Luiz Barreiros Passos, acting as chairman of the
meeting, invited me Moacir Salzstein to serve as secretary, in order to, in compliance
with the CVM Instruction 308/99, approve, as suggested by the Audit Committee of the
Company, the hiring of the independent auditors company Ernst & Young Terco
Auditores Independentes S.S. to audit the financial statements of the Company
regarding the fiscal year ended on December 31, 2012, in replacement of Deloitte
Touche Tohmatsu Auditores Independentes ("Deloitte"), beginning its activities as of
the review of the trimestral information (ITRs) of the first trimester of 2012.

The Board of Directors thanks Deloitte for the services rendered.

As there was no more business to be transacted, these minutes were read, approved and
then executed by all present.
Itapecerica da Serra/SP, July 25, 2012.

PEDRO LUIZ BARREIROS PASSOS
Chairman of the Meeting
Co- Chairman of the Board

ANTONIO LUIZ DA CUNHA SEABRA
Co- Chairman of the Board


GUILHERME PEIRÃO LEAL
Co- Chairman of the Board


LUIZ ERNESTO GEMIGNANI
Director


JULIO MOURA NETO
Director


MARCOS DE BARROS LISBOA
Director


MOACIR SALZSTEIN
Secretary of the Meeting