Banco Bradesco S A : Reference Form 2020

Historical resubmission

Version	Reasons for resubmission	Date of change
V2	Amendments to item 12.5/6	July 1st, 2020
V3	Amendments to itens 12.5/6 and 12.10	September 21, 2020
V4	Amendments to item 12.7/8	November 11, 2020
V5	Amendments to item 12.5/6	December 11, 2020
V6	Amendments to itens 12.5/6, 12.10 and 12.12	December 18, 2020
V7	Amendments to itens 12.5/6, 12.10 and 12.12	January 5, 2021
V8	Amendments to itens 12.5/6, 12.7/8, 12.9, 12.10 and 12.12	January 18, 2021
V9	Amendments to itens 12.7/8 and 12.12	January 18, 2021
V10	Amendments to item 12.5/6 and 12.10	January 20, 2021
V11	Amendments to item 12.7/8 and 12.12	February 3, 2021
V12	Amendments to itens 11.1, 11.2, 12.5/6 and 12.12	February 11, 2021
V13	Amendments to itens 12.5/6 and 12.12	February 18, 2021
V14	Amendments to itens 12.5/6, 12.7/8 and 12.10	March 8, 2021
V15	Amendments to itens 12.5/6, 12.10 and 12.12	March 16, 2021
V16	Amendments to itens 12.5/6, 12.10 and 12.12	March 19, 2021
V17	Amendments to itens 12.5/6, 12.7/8 and 12.12	March 29, 2021

Summary
1. INDIVIDUALS RESPONSIBLE FOR THE FORM .........................................................................................	8
1.1	- DECLARATION AND IDENTIFICATION OF THE INDIVIDUALS IN CHARGE ............................................................	8
1.1	- CEO'S STATEMENT ..................................................................................................................................	9
1.2	- INVESTOR RELATIONS OFFICER'S STATEMENT .........................................................................................	10
1.3	- STATEMENT OF THE CEO / INVESTOR RELATIONS OFFICER ......................................................................	11
2. INDEPENDENT AUDITORS ........................................................................................................................	12
2.1/2.2 - IDENTIFICATION AND REMUNERATION OF AUDITORS ............................................................................	12
2.3	- OTHER RELEVANT INFORMATION..............................................................................................................	12
3. SELECTED FINANCIAL INFORMATION....................................................................................................	13
3.1	- FINANCIAL INFORMATION - CONSOLIDATED..............................................................................................	13
3.2	- NON-GAAPEARNINGS ...........................................................................................................................	13
3.3	- SUBSEQUENT EVENTS TO THE LATEST FINANCIAL STATEMENTS .................................................................	13
3.4	- INCOME ALLOCATION POLICY ...................................................................................................................	17
3.5	- DIVIDEND PAYOUTS.................................................................................................................................	19
3.6	- DECLARATION OF DIVIDENDS TO THE WITHHELD PROFITS OR THE RESERVES ACCOUNT ...............................	21
3.7	- LEVEL OF INDEBTEDNESS ........................................................................................................................	21
3.8	- OBLIGATIONS .........................................................................................................................................	21
3.9	- OTHER RELEVANT INFORMATION..............................................................................................................	22
4. RISK FACTORS...........................................................................................................................................	23
4.1	- DESCRIPTION OF RISK FACTORS ..............................................................................................................	23
4.2	- DESCRIPTION OF THE MAIN MARKET RISKS ...............................................................................................	39
4.3	- NON-CONFIDENTIAL AND RELEVANT LITIGATION, ARBITRATION OR ADJUDICATORY PROCEEDINGS ................	43

4.4 - NON-CONFIDENTIAL AND RELEVANT LITIGATION, ARBITRATION OR ADJUDICATORY PROCEEDINGS WHOSE APPELLEES ARE ADMINISTRATORS, FORMER ADMINISTRATORS, CONTROLLERS, FORMER CONTROLLERS OR

INVESTORS......................................................................................................................................................	52
4.5 - CONFIDENTIAL RELEVANT PROCEEDINGS..................................................................................................	52

4.6 - NON-CONFIDENTIAL AND RELEVANT JOINT LITIGATION, ARBITRATION OR ADJUDICATORY PROCEEDINGS,

RECURRING OR ANCILLARY...............................................................................................................................	52
4.7	- OTHER RELEVANT CONTINGENCIES ..........................................................................................................	53
4.8	- RULES OF THE COUNTRY OF ORIGIN AND THE COUNTRY WHERE THE SECURITIES ARE GUARDED ..................	53
5. RISK MANAGEMENT AND INTERNAL CONTROLS ................................................................................	54
5.1 RISK MANAGEMENT POLICY ........................................................................................................................	54
5.2	- MARKET RISK MANAGEMENT POLICY ........................................................................................................	61
5.3	- DESCRIPTION OF THE INTERNAL CONTROLS .............................................................................................	64
5.4	- INTEGRITY PROGRAM..............................................................................................................................	66
5.5	- SIGNIFICANT CHANGES............................................................................................................................	70
5.6	- OTHER RELEVANT INFORMATION - RISK MANAGEMENT AND INTERNAL CONTROLS .......................................	70

.................................................................................................................................135

6. ISSUER'S HISTORY ....................................................................................................................................

71

6.1 / 6.2 / 6.4 - ESTABLISHMENT OF THE ISSUER, TERM OF DURATION AND DATE OF REGISTRATION AT THE CVM .71

6.3	- BRIEF HISTORY ......................................................................................................................................	71
6.5	- BANKRUPTCY INFORMATION FOUNDED ON RELEVANT VALUE OR JUDICIAL OR EXTRAJUDICIAL RECOVERY .....	72
6.6	- OTHER RELEVANT INFORMATION..............................................................................................................	72
7. ISSUER'S ACTIVITIES ................................................................................................................................	73
7.1	- DESCRIPTION OF THE MAIN BUSINESS ACTIVITIES OF THE ISSUER AND ITS SUBSIDIARIES .............................	73
7.2	- INFORMATION ON OPERATING SEGMENTS .................................................................................................	73
7.3	- INFORMATION ON PRODUCTS AND SERVICES RELATING TO THE OPERATIONAL SEGMENTS ...........................	77
7.4	- CUSTOMERS RESPONSIBLE FOR MORE THAN 10% OF THE TOTAL NET REVENUE .......................................	101
7.5	- RELEVANT EFFECTS OF THE STATE REGULATION OF ACTIVITIES ...............................................................	101
7.6	- RELEVANT REVENUES COMING FROM FOREIGN COUNTRIES .....................................................................	133
7.7	- EFFECTS OF FOREIGN CONTROL ON ACTIVITIES ......................................................................................	133
7.8	- SOCIO-ENVIRONMENTALPOLICIES..........................................................................................................	133
7.9	- OTHER RELEVANT INFORMATION............................................................................................................	134
8. EXTRAORDINARY BUSINESS.................................................................................................................	135
8.1	- EXTRAORDINARY BUSINESS...................................................................................................................	135
8.2	- SIGNIFICANT ALTERATIONS IN THE ISSUER'S MANNER OF CONDUCTING BUSINESS .....................................	135

8.3 - SIGNIFICANT CONTRACTS NOT DIRECTLY RELATED TO OPERATING ACTIVITIES ENTERED INTO BY THE ISSUER

OR BY ITS SUBSIDIARIES

8.4	- OTHER RELEVANT INFORMATION............................................................................................................	135
9. RELEVANT ASSETS .................................................................................................................................	136
9.1	- RELEVANT NON-CURRENTASSETS - OTHERS .........................................................................................	136
9.2	- OTHER RELEVANT INFORMATION............................................................................................................	138
10. OFFICERS' NOTES .................................................................................................................................	141
10.1	- GENERAL FINANCIAL AND EQUITY CONDITIONS ....................................................................................	141
10.2	- FINANCIAL AND OPERATING INCOME .....................................................................................................	163
10.3	- EVENTS WITH RELEVANT EFFECTS, OCCURRED AND EXPECTED, IN THE FINANCIAL STATEMENTS..............	165

10.4 - SIGNIFICANT CHANGES IN ACCOUNTING PRACTICES - CAVEATS AND EMPHASIS IN THE AUDITOR'S OPINION 166

10.5	- CRITICAL ACCOUNTING POLICIES .........................................................................................................	174
10.6	- RELEVANT ITEMS NOT EVIDENCED IN THE FINANCIAL STATEMENTS .........................................................	176
10.7	- COMMENTS ON OTHER ITEMS NOT EVIDENCED IN THE FINANCIAL STATEMENTS .......................................	177
10.8	- BUSINESS PLAN ..................................................................................................................................	177
10.9	- OTHER FACTORS WITH RELEVANT INFLUENCE.......................................................................................	178
11. PROJECTIONS ........................................................................................................................................	179
11.1	- DISCLOSED PROJECTIONS AND ASSUMPTIONS ......................................................................................	179
11.2	- MONITORING AND CHANGES TO THE DISCLOSED PROJECTIONS..............................................................	181

.......................................................................287

............................................................................................285

12. SHAREHOLDERS' MEETING AND MANAGEMENT.............................................................................	183
12.1 DESCRIPTION OF THE ADMINISTRATIVE STRUCTURE .................................................................................	183
12.2	- RULES, POLICIES AND PRACTICES RELATING TO SHAREHOLDERS' MEETINGS .........................................	198
12.3	- RULES, POLICIES AND PRACTICES RELATING TO THE BOARD OF DIRECTORS ..........................................	201
12.4	- DESCRIPTION OF THE ARBITRATION CLAUSE TO RESOLVE CONFLICT THROUGH ARBITRATION ...................	203
12.5/6 - COMPOSITION AND PROFESSIONAL EXPERIENCE OF THE MANAGEMENT AND FISCAL COUNCIL .............	204
12.7/8 COMPOSITION OF COMMITTEES .......................................................................................................	252

12.9 - EXISTENCE OF A MARITAL RELATIONSHIP, STABLE UNION OR KINSHIP UP TO THE SECOND DEGREE RELATED

TO ISSUER'S MANAGERS, SUBSIDIARIES AND CONTROLLING COMPANIES............................................................

258

12.10 - RELATIONSHIPS OF SUBORDINATION, PROVISION OF SERVICE OR CONTROL BETWEEN MANAGERS,

SUBSIDIARIES, CONTROLLING COMPANIES AND OTHER .....................................................................................

259

12.11 - AGREEMENTS, INCLUDING ANY INSURANCE POLICIES, FOR THE PAYMENT OR REIMBURSEMENT OF

EXPENSES INCURRED BY DIRECTORS AND OFFICERS.......................................................................................	268
12.12 - OTHER RELEVANT INFORMATION........................................................................................................	269
13. MANAGEMENT REMUNERATION..........................................................................................................	271

13.1 - DESCRIPTION OF THE POLICY OR COMPENSATION PRACTICE, INCLUDING THE NON-STATUTORYBOARD OF

EXECUTIVE OFFICERS ...................................................................................................................................

271

13.2 - TOTAL COMPENSATION OF THE BOARD OF DIRECTORS, STATUTORY BOARD OF EXECUTIVE OFFICERS AND

FISCAL COUNCIL ...........................................................................................................................................

279

13.3 - VARIABLE COMPENSATION OF THE BOARD OF DIRECTORS, STATUTORY BOARD OF EXECUTIVE OFFICERS

AND FISCAL COUNCIL ....................................................................................................................................

281

13.4 - COMPENSATION PLAN BASED ON SHARES OF THE BOARD OF DIRECTORS AND OF THE STATUTORY BOARD

OF EXECUTIVE OFFICERS...............................................................................................................................

284

13.5 - COMPENSATION BASED ON SHARES OF THE BOARD OF DIRECTORS AND OF THE STATUTORY BOARD OF

EXECUTIVE OFFICERS ...................................................................................................................................

284

13.6 - INFORMATION ON OPTIONS (OPEN) HELD BY THE BOARD OF DIRECTORS AND STATUTORY BOARD OF

EXECUTIVE OFFICERS ...................................................................................................................................

284

13.7 - OPTIONS EXERCISED AND SHARES DELIVERED RELATED TO COMPENSATION BASED ON SHARES OF THE

BOARD OF DIRECTORS AND OF THE STATUTORY BOARD OF EXECUTIVE OFFICERS ...........................................

285

13.8 - INFORMATION NECESSARY FOR UNDERSTANDING THE DATA DISCLOSED IN ITEMS 13.5 TO 13.7 - METHOD

OF PRICING THE VALUE OF SHARES AND OPTIONS

13.9 - NUMBER OF SHARES, QUOTAS AND OTHER SECURITIES CONVERTIBLE INTO SHARES HELD BY MANAGERS

AND MEMBERS OF THE FISCAL COUNCIL - BY BODY .........................................................................................

285

13.10 - INFORMATION ON PRIVATE PENSION PLANS GRANTED TO THE MEMBERS OF THE BOARD OF DIRECTORS

AND OF THE STATUTORY BOARD OF EXECUTIVE OFFICERS..............................................................................

286

13.11 - HIGHEST, LOWEST AND THE AVERAGE INDIVIDUAL COMPENSATION FOR THE BOARD OF DIRECTORS,

STATUTORY BOARD OF EXECUTIVE OFFICERS AND FISCAL COUNCIL ...............................................................

287

13.12 - COMPENSATION OR INDEMNITY MECHANISMS FOR MANAGERS IN CASE OF REMOVAL FROM OFFICE OR

RETIREMENT..................................................................................................................................................

287

13.13 - PERCENTAGE IN TOTAL COMPENSATION HELD BY MANAGEMENT AND MEMBERS OF THE FISCAL COUNCIL

THAT ARE RELATED PARTIES TO THE CONTROLLING COMPANIES

13.14 - COMPENSATION OF MANAGERS AND FISCAL COUNCIL'S MEMBERS, GROUPED BY BODY, RECEIVED FOR

ANY REASON OTHER THAN THE POSITION THEY OCCUPY...................................................................................

287