<SEC-DOCUMENT>0001292814-25-001585.txt : 20250422
<SEC-HEADER>0001292814-25-001585.hdr.sgml : 20250422
<ACCEPTANCE-DATETIME>20250422170604
ACCESSION NUMBER:		0001292814-25-001585
CONFORMED SUBMISSION TYPE:	6-K/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250422
DATE AS OF CHANGE:		20250422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Banco Santander (Brasil) S.A.
		CENTRAL INDEX KEY:			0001471055
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34476
		FILM NUMBER:		25858440

	BUSINESS ADDRESS:	
		STREET 1:		AV. JUSCELINO KUBITSCHEK, 2235
		STREET 2:		AV. JUSCELINO KUBITSCHEK, 2041
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			04543-011
		BUSINESS PHONE:		(55 11) 3174-8589

	MAIL ADDRESS:	
		STREET 1:		AV. JUSCELINO KUBITSCHEK, 2235
		STREET 2:		AV. JUSCELINO KUBITSCHEK, 2041
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			04543-011
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K/A
<SEQUENCE>1
<FILENAME>bsbr20250422_6ka.htm
<DESCRIPTION>6-K/A
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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K/A</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>SECURITIES EXCHANGE ACT OF 1934 </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of April, 2025</B></FONT></DIV>

<HR align=center color=#000000 width="21%" noShade>

<FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number: 001-34476 </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>BANCO SANTANDER (BRASIL) S.A. </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>(Exact name of registrant as specified in its charter) </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Avenida Presidente Juscelino Kubitschek, 2041 and 2235<BR>Bloco A &#8211; Vila Olimpia<BR>S&#227;o Paulo, SP 04543-011<BR>Federative Republic of Brazil </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>(Address of principal executive office) </B></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT size=2></FONT>&nbsp;</P>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</FONT> <FONT color=#000000 size=3 face="Times New Roman">Form 20-F ___X___ Form 40-F _______</FONT>

<P>&nbsp;<FONT size=3 face="'Times New Roman, Times, Serif'">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</FONT>&nbsp;</P>

<P><FONT color=#000000 size=3 face="Times New Roman">Yes _______ No ___X____</FONT></P>

<P>&nbsp;<FONT size=3 face="'Times New Roman, Times, Serif'">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</FONT>&nbsp;</P>

<P><FONT color=#000000 size=3 face="Times New Roman">Yes _______ No ___X____</FONT> </P>

<P>&nbsp;<FONT size=3 face="'Times New Roman, Times, Serif'">Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:</FONT>&nbsp;</P>

<P><FONT color=#000000 size=3 face="Times New Roman">Yes _______ No ___X____</FONT> </P>

<P>&nbsp;<FONT size=3 face="'Times New Roman, Times, Serif'">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):&nbsp;<U>&nbsp;N/A</U></FONT></P></DIV>

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&nbsp;</B></P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center; color: red"><B>SUMMARY</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>&nbsp;</B></P>



<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>&nbsp;</B></P>

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  <TD STYLE="text-align: justify; width: 95%">1. Message from the Board of Directors</TD>
  <TD STYLE="text-align: right; width: 5%">3</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%"><FONT STYLE="color: red">2. Call Notice</FONT></TD>
  <TD STYLE="text-align: right; width: 5%">4</TD></TR>
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<P STYLE="color: red; font: bold 11pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

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  <TD STYLE="text-align: justify; width: 95%"><FONT STYLE="color: red">3. Shareholder participation in the OEGM</FONT></TD>
  <TD STYLE="text-align: right; width: 5%">6</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">4. Matters to be deliberated at the OEGM</TD>
  <TD STYLE="text-align: right; width: 5%">11</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX I: MODEL POWER OF ATTORNEY</TD>
  <TD STYLE="text-align: right; width: 5%">15</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX II: MANAGERS' COMMENTS ON THE COMPANY'S FINANCIAL SITUATION</TD>
  <TD STYLE="text-align: right; width: 5%">17</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX III: MANAGEMENT'S PROPOSAL FOR THE ALLOCATION OF NET INCOME FOR THE YEAR</TD>
  <TD STYLE="text-align: right; width: 5%">72</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX IV: PROPOSAL FOR THE ELECTION OF A MEMBER OF THE COMPANY'S BOARD OF DIRECTORS </TD>
  <TD STYLE="text-align: right; width: 5%">80</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX V: ITEM 8 of the Reference Form</TD>
  <TD STYLE="text-align: right; width: 5%">89</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX VI: COMPARATIVE TABLE FOR THE PROPOSAL TO AMEND THE COMPANY'S BYLAWS</TD>
  <TD STYLE="text-align: right; width: 5%">155</TD></TR>
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  <TD STYLE="text-align: justify; width: 95%">ANNEX VII: CONSOLIDATED BYLAWS OF THE COMPANY</TD>
  <TD STYLE="text-align: right; width: 5%">156</TD></TR>
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&nbsp;</P>


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<P STYLE="color: red; font: bold 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">1. Message from the Board of Directors</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Dear Shareholder,</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">It is with great pleasure
that I invite you, a shareholder of Santander Brasil, to participate in our <B>Ordinary and Extraordinary General Meetings </B>(&quot;OEGM&quot;),
to be held cumulatively on April 25, 2025, at 3 p.m.</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">Besides this Management Proposal (&#8220;<U>Proposal</U>&#8221;)
a Manual for Participation in the OEGM (&#8220;<U>Manual</U>&#8221;) was prepared to assist you in understanding the matters presented,
providing a conscious and reasoned decision-making process, anticipating possible clarifications and voting guidelines<FONT STYLE="letter-spacing: -0.1pt">.</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">Pursuant to the Call Notice made available, we shall take
resolutions on the following matters<FONT STYLE="letter-spacing: -0.1pt">: </FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>At the Ordinary
General Meeting:</B></FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/13pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To TAKE the management accounts, to examine, discuss and vote
on the Company&#8217;s Financial Statements related to the fiscal year ended on December 31, 2024, accompanied by the Management Report,
the balance sheet, other parts of the financial statements, external auditors&#8217; opinion and the Audit Committee Report; </FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(ii)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
DECIDE on the allocation of net income for the year 2024 and the distribution of dividends;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(iii)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
FIX the number of members that will compose the Board of Directors in the term of office from 2025 to 2027;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(iv)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
ELECT the members of the Company's Board of Directors for a term of office from 2025 to 2027; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(v)</B> To FIX the annual global compensation of the
Company&acute;s management and members of Audit Committee for the year of 2025.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>At the Extraordinary General Meeting:</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To AMEND art. 30 of the Company&#8217;s Bylaws, to adapt the
rules for the composition and term of office of the Audit Committee to the Central Bank of Brazil&#8217;s standard &#8211; CMN Resolution
4,910/21; and</FONT></P>

<P STYLE="font: 11pt/13pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(ii)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To CONSOLIDATE the Company&#8217;s Bylaws.</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">As established by the Brazilian Securities and Exchange
Commission (CVM), in order to facilitate its analysis and evaluation of the matters to be resolved on our OEGM, this Proposal includes
exhibits containing the information made available in addition to the Call Notice<FONT STYLE="letter-spacing: -0.1pt">.</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">We are at your disposal to clarify any questions through
the emails <FONT STYLE="color: blue"><U>acionistas@santander.com.br</U></FONT> oriented at non-financial individual and corporate investors
and <FONT STYLE="color: blue"><U>ri@santander.com.br</U></FONT> for institutional investors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">We hope that this Proposal and the Manual fulfills its purpose
in assisting your decision making. Your participation is essential for the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center">Sincerely,</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>Deborah Stern Vieitas</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center">Chairwoman of the Board of Directors <I><BR STYLE="clear: both">
</I></P>


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<P STYLE="color: red; font: bold 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">2. Call Notice</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; color: #EB0000"><I>[to be published in the newspaper &#8220;Valor
Econ&ocirc;mico&#8221; in editions of March 25, 26 and 27, 2025]</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><B>BANCO SANTANDER (BRASIL) S.A.</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center">Publicly-Held Company with Authorized Capital</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center">CNPJ/MF 90.400.888/0001-42 - NIRE 35.300.332.067</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>CALL NOTICE &#8211; ORDINARY AND EXTRAORDINARY GENERAL
MEETINGS - </B>Shareholders are hereby invited to attend the Ordinary and Extraordinary General Meetings (&#8220;<U>OEGM</U>&#8221;) to
be held on April 25, 2025, at 3:00 PM, at the principal place of business of the Company, located at Avenida Presidente Juscelino Kubitschek
No. 2041 &#8211; 2nd mezzanine, Vila Nova Concei&ccedil;&atilde;o, S&atilde;o Paulo/SP, to resolve upon the following Agenda:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>At the Ordinary
General Meeting:</B></FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To TAKE the management accounts, to examine, discuss and vote
on the Company&#8217;s Financial Statements related to the fiscal year ended on December 31, 2024, accompanied by the Management Report,
the balance sheet, other parts of the financial statements, external auditors&#8217; opinion and the Audit Committee Report; </FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(ii)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
DECIDE on the allocation of net income for the year 2024 and the distribution of dividends;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(iii)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
FIX the number of members that will compose the Board of Directors in the term of office from 2025 to 2027;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(iv)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
ELECT the members of the Company's Board of Directors for a term of office from 2025 to 2027; and</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(v)</B> To FIX the annual global compensation of the
Company&acute;s management and members of Audit Committee for the year of 2025.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>At the Extraordinary General Meeting:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To AMEND art. 30 of the Company&#8217;s Bylaws, to adapt the
rules for the composition and term of office of the Audit Committee to the Central Bank of Brazil&#8217;s standard &#8211; CMN Resolution
4,910/21; and</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(ii)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To CONSOLIDATE the Company&#8217;s Bylaws.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>Observations for participation and Voting
during the Meeting</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Participation in the Meeting: Shareholders, their legal
representatives or attorneys-in-fact may participate in the Meeting in any of the following ways:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>In person</B> - The shareholders or their legal representatives
shall present themselves for the OEGM with the appropriate identity documents. In the event of representation of a shareholder by an attorney-in-fact,
shareholders shall provide the Company with a power of attorney granted according to the applicable law, to be delivered at the Company's
Headquarters, at least seventy-two (72) hours before the OEGM is held;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Remote Voting Ballot</B>: the Company implemented the
remote voting system pursuant to CVM Resolution 81/22, as amended, enabling our Shareholders to send remote voting ballots directly to
the Company, to the bookkeeper or through their respective custodian agents, in accordance with the procedures described in the General
Meeting Participation Manual.</P>


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<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">As provided for in Article 5, &sect; 4, of CVM Resolution
No. 81/22, with the amendments introduced by CVM Resolutions No. 59/21 and 204/24, the Company understands that holding the OEGM in person
allows for a closer environment between shareholders and the attending Company's management, facilitating the clarification of doubts
and the discussion of relevant matters, enabling a closer environment to deliberations and decision-making. In addition, it ensures greater
security in the transmission of information, avoiding risks associated with technical or cyber failures.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In this sense, the Company recommends and encourages the
participation of its shareholders in its Meetings, using the various participation channels made available, whether through the use of
remote voting instruments, through the available electronic means or even by sending written votes to the Company or granting standardized
proxies with voting instructions, in accordance with the instructions made available in the Management Proposal for the Ordinary and Extraordinary
General Meetings of April 25, 2025.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>General Instructions</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">1. As provided in CVM Resolution No. 70/22, the minimum
percentage of participation in the voting capital required for the application of the cumulative voting process (<I>processo de voto m&uacute;ltiplo)</I>
for the election of the members of the Board of Directors is of 5%;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">2. As provided in &sect; 2 of article 161 of Law No. 6,404/76
and art. 4 of CVM Resolution No. 70/22, the installation of a Fiscal Council by the General Meeting shall occur at the request of shareholders
representing at least 2% (two percent) of the common shares, or 1% (one per cent) of preferred shares; and</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">3. The documents related to the matters to be examined and
resolved at the OEGM are available to shareholders (i) at the Company's headquarters, at Avenida Presidente Juscelino Kubitschek, n&ordm;
2041, Wtorre JK, 9th floor - Corporate Legal Department, where they can be consulted on business days, from 10:00 a.m. until 4:00 p.m.,
and on its investor relations website (www.ri.santander.com.br &#8211; at Corporate Governance &gt;&gt; Minutes of the Meeting); (ii)
on the website of the CMV &#8211; Comiss&atilde;o de Valores Mobili&aacute;rios (www.cvm.gov.br) and (iii) on the website of the stock
exchange B3 S.A. - Brasil, Bolsa, Balc&atilde;o (http://www.b3.com.br).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">S&atilde;o Paulo, March 24, 2025</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Deborah Stern Vieitas</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Chairwoman of the Board of Directors.</B></P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">3. Participation of shareholders in the
OEGM</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Santander Brasil shareholders may participate in the OEGM
<B>in person</B>, by a duly <B>appointed proxy</B>, as specified in item 3.2 below, or by <B>Remote Voting</B>.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Shareholders will be required to provide the following documents
to participate in the OEGM:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 12pt/15pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>Individual:</I></B></FONT></TD>
    <TD STYLE="width: 75%; border-top: black 1.5pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">identity document with photo<SUP>1</SUP> (original or copy)</FONT></P>
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">proof of ownership of the shares issued by the Company, issued by
    the depository and/or custodian financial institution (original or copy)</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 12pt/15pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>Legal entity:</I></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">corporate documents that prove the legal representation of the shareholder
    (original or copy)<SUP>2</SUP></FONT></P>
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">legal representative's identity document with photo (original or
    copy)</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; font: 12pt/15pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>Investment fund</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">identity document of the legal representative of the Investment
    Fund&#8217;s manager (or of the manager, as the case may be) with photo (original or copy)</FONT></P>
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; letter-spacing: -0.2pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">simple copy of the last consolidated bylaws of the fund and of the
    Articles of Association or Organization of its manager, in addition to the corporate documentation granting powers of representation (minutes
    of election of the officers and/or power of attorney)</FONT></P></TD></TR>
  </TABLE>
<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">3.1. In-person Participation</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Santander Brasil shareholders may participate in the OEGM
by attending the place where it will be held and declaring their vote, according to the types of shares they own (common and/or preferred),
and the matters to be voted on.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Corporate shareholders, such as companies and investment
funds, shall be represented in accordance with their Articles of Association, Articles of Organization or Bylaws, delivering documents
proving the regularity of the representation, accompanied by the Minutes of the election of the Managers, if applicable, at the place
and term indicated in the item below. Prior to the OEGM, the shareholders shall sign the Attendance Book. Shareholders without voting
rights may attend the OEGM and discuss all matters submitted for resolution.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in; color: red">3.2. Participation by Proxy</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholder may be represented at the OEGM by an attorney-in-fact,
duly appointed under a public or private instrument, and pursuant to article 126, &sect; 1 of the Corporations Act, the attorneys-in-fact
shall have been appointed less than one (1) year ago, and they shall be (i) shareholders of the Company,
(ii) managers of the Company, (iii) lawyers, or (iv) financial institutions, with the investment fund&#8217;s manager being responsible
for representing the quota holders.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify"><SUP>1</SUP> <I>The following documents may be presented: (i)
General Registration Identity Card (RG); (ii) Foreigner Registration Identity Card (RNE); (iii) Valid passport; (iv) Class Organization
Card valid as a civil identity for legal purposes (e.g.: OAB, CRM, CRC, CREA); or (v) National Driver's License (CNH) with photo.</I></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify"><SUP>2</SUP> <I>Articles of Incorporation/Organization and Minutes/Instruments
of election of legal representatives registered with the competent body.</I></P>

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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The originals or copies of the documents mentioned above may
be delivered at the Company's principal place of business by the time the OEGM is held.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">However, in order to facilitate shareholders' access to the OEGM,
we recommend that the delivery of such documents be made at least seventy-two (72) hours before the OEGM is held.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">In the case of submittal of documents via email, we request that
the shareholder contact the Company, so that the originals or copies can be delivered by the day the OEGM is held.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">In case the Shareholder is unable to attend the OEGM or cannot
yet be represented by an attorney-in-fact of his/her/their choice, the Company will make available an attorney-in-fact to vote for the
shareholder, in accordance with his/her/their voting instructions, according to the power of attorney template in <U>Exhibit I</U> to
this Proposal.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">Furthermore, it should be noted that in addition to the power
of attorney, the shareholder shall forward the documents required by the Company to participate in the OEGM, as provided for in item 3
above.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The documents shall be delivered at the Company&#8217;s principal
place of business, at Avenida Presidente Juscelino Kubitschek, No. 2041 &#8211; Bloco A &#8211; Vila Nova Concei&ccedil;&atilde;o - S&atilde;o
Paulo &#8211; SP, 26th floor &#8211; Company&#8217;s Investor Relations, email: ri@santander.com.br<FONT STYLE="color: blue"><U>.</U></FONT></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in; color: red">3.3. Remote Voting Participation</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">Pursuant to articles 26 et seq. of CVM Ruling No. 81/22, the
Company's shareholders may also vote at shareholders&#8217; meetings by means of remote voting, to be formalized through the &#8220;remote
voting ballot&#8221; (&#8220;<U>Ballot</U>&#8221;), the template of which is available in the Corporate Governance area of the Company&#8217;s
Investor Relations website (www.ri.santander.com.br), or on the website of the Brazilian Securities and Exchange Commission &#8211; CVM
(http://sistemas.cvm.gov.br/?CiaDoc).</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholder that chooses to exercise his/her/their voting
rights remotely shall do so by one of the options described below:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left; color: red"><B>(I)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Submittal
of the Ballot to Custody agents or Central Depository</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The Shareholder that chooses to cast remote voting through his/her/its
respective custodian agent (&#8220;<U>Custodian</U>&quot;) shall convey his/her/their voting instructions in accordance to the rules determined
by the Custodian, which shall forward said voting ballots to the Central Depository of B3 S.A. - Brasil, Bolsa, Balc&atilde;o. Shareholders
shall contact his/her/their respective Custodians and Central Depository to check the procedures established by them for issuance of ballot
voting instructions, as well as the documents and information required to do so.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The Shareholder shall convey the instructions for completion
of the Ballot to his/her/their Custody agents or Central Depository by <B>04/22/2025 (including)</B>, unless defined otherwise by them.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left; color: red"><B>(II)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Submittal
of the Ballot by the Shareholder to the Bookkeeper</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The Shareholder who chooses to cast the remote vote through the
Company's Bookkeeper shall observe the following instructions, so that the Ballot can be deemed valid and the votes are counted:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(i) all fields shall be duly completed;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(ii) all pages shall be initialed;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(iii) the last page shall be signed by the Shareholder or his/her/their
legal representative(s), as applicable, and in accordance with the applicable legislation.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><U>The following documents shall be forwarded to the Bookkeeper:</U></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">(i) original copy of the Ballot, duly completed, initialed and signed;
and</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">(ii) copy of the following documents:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Individual (Shareholder or legal representative): Identity
document with photo (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: left"><I>&nbsp;</I></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Legal entity: (i) Articles of Organization or Bylaws duly
updated, with the documents proving the powers of representation (minutes of election); (ii) Identity document with photo of the representatives
(RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Investment fund: (i) Latest consolidated Regulations for
the fund, as well as the Bylaws or Articles of Organization of its manager, in addition to the corporate documentation that grants proxy
powers (minutes of officers&#8217; election and/or power of attorney); (ii) Identity Card with a photograph of the representatives (RG
and CPF; CNH (driver&#8217;s license) or official Professional Card containing the CPF enrollment number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The documents shall be sent to the Bookkeeper within 4 days before
the date of the OEGM, in other words, by <B>04/22/2025 (including) (i)</B> at the following address: Banco Santander (Brasil) S.A. &#8211;
Shareholders &#8211; Bookkeeping of Shares &#8211; Rua Amador Bueno, 474 &#8211; 2nd floor &#8211; Setor vermelho - Santo Amaro &#8211;
S&atilde;o Paulo/SP &#8211; CEP 04752- 005; or <B>(ii)</B> via email, to the electronic address acoes@santander.com.br.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">After receiving the documents, the Bookkeeper, within three (3)
days, will inform the Shareholder regarding the receipt of the documents and their acceptance. If the submitted documentation is not considered
suitable, the Ballot shall be considered invalid, and the Shareholder may regularize it by <B>04/22/2025 (including).</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><U>Ballots received by the Bookkeeper after 04/22/2025 shall
be disregarded.</U></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left; color: red"><B>(III)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Submittal
of the Ballot directly to the Company</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The Shareholder who chooses to cast the remote vote through the
Company shall observe the following instructions, so that the Ballot can be deemed valid and the votes are counted:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(i) all fields shall be duly completed;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(ii) all pages shall be initialed;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(iii) the last page shall be signed by the Shareholder or his/her/its
legal representative(s), as applicable, and in accordance with the applicable legislation.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><U>The following documents shall be forwarded to the Company:</U></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(i) original copy of the Ballot, duly completed, initialed and
signed; and</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">(ii) copy of the following documents:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Individual (Shareholder or legal representative): Identity
document with photo (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: left"><I>&nbsp;</I></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Legal entity: (i) Articles of Organization or Bylaws duly
updated, with the documents proving the powers of representation (minutes of election); (ii) Identity document with photo of the representatives
(RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="text-align: justify; margin: 0; font: 10pt Verdana,sans-serif"><I>Investment fund: (i) Last consolidated bylaws of the fund
and of the Articles of Association or Organization of its manager, in addition to the corporate documentation granting powers of representation
(minutes of election of the officers and/or power of attorney) (ii) Identity document with photo of the representatives (RG and CPF; CNH
or Professional Card duly attested by the competent authorities, containing CPF number).</I></LI>

</UL>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The documents shall be sent to the Company within 4 days before
the date of the OEGM, in other words, by <B>04/22/2025 (including) (i)</B> at the following address: Banco Santander (Brasil) S.A. - Investor
Relations - Avenida Presidente Juscelino Kubitschek, 2041 &#8211; Bloco A - 26th floor &#8211; Vila Nova Concei&ccedil;&atilde;o - S&atilde;o
Paulo/SP - CEP 04543-011; or <B>(ii)</B> via email, to the electronic address <U>ri@santander.com.br</U>.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">After receiving the documents, the Company, within three (3)
days, will inform the Shareholder regarding the receipt of the documents and their acceptance. If the submitted documentation is not considered
suitable, the Ballot shall be considered invalid, and the Shareholder may regularize it by <B>04/22/2025 (including).</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><U>Ballots received by the Company after 04/22/2025 shall be
disregarded.</U></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>General Information: </B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">in accordance with Article 44 of CVM Resolution n&ordm; 81, the
Central Depository of B3 S.A. - Brasil, Bolsa, Balc&atilde;o, upon receiving the voting instructions from the shareholders through their
respective custody agents shall disregard any diverging instructions in relation to the same resolution that has been issued by the same
CPF or CNPJ registration number; and</FONT></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">upon termination of the deadline for remote voting, in other words,
by <B>04/22/2025 (including)</B>, the shareholder will not be able to change the voting instructions already sent, except if attending
the Shareholders' Meeting or represented by power of attorney, upon express request for disregard of the voting instructions sent through
the Ballot, before the respective matter(s) is subject to voting.</FONT></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="color: red; font: bold 10pt Verdana,sans-serif; margin: 0; text-align: justify">3.4. ADS holders</P>

<P STYLE="color: red; font: bold 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Holders of American Depositary Shares (ADSs) shall be given
the right to vote on the matters listed on the Agenda, subject to the same criteria applied in relation to national investors, according
to the type of shares (common or preferred) on which their ADSs are backed. ADS holders will be duly instructed by The Bank of New York
Mellon, depository institution for ADSs backed by Santander Brasil shares.<BR STYLE="clear: both">
</P>


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<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4. Matters to be resolved at the OEGM</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Below you shall find clarifications made by the Company&#8217;s
management regarding each of the items to be resolved in the OEGM. According to the Call Notice made available to the shareholders, our
OEGM shall take resolutions regarding the following matters of the Agenda:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>4.1 At the Ordinary General Meeting:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.1.1 To TAKE the management accounts,
to examine, discuss and vote on the Company&#8217;s Financial Statements related to the fiscal year ended on December 31, 2024, accompanied
by the Management Report, the balance sheet, other parts of the financial statements, external auditors&#8217; opinion and the Audit Committee
Report.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The documents presented by the management are:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">i. Management Report showing the operating statistics and
the analysis and discussion of the Administrative Officers of the principal accounts of the Statement of Income for the Fiscal Year;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">ii. Comments of the administrative officers on the financial
condition of the Company (<U>Exhibit II</U> - Item 2 of the Reference Form);</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">iii. Copy of the Financial Statements and Explanatory Notes;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">iv. Opinion of the Independent Auditors;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">v. Summary of the report of the Audit Committee; and</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">vi. Standardized financial statements form &#8211; DFP &#8211;
(&#8220;<I>demonstra&ccedil;&otilde;es financeiras padronizadas</I>&#8221;).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The management documents identified above, except for item
ii above, were made available to the CVM, via the IPE system, at the time of disclosure of the individual and consolidated financial statements
of the Company prepared in accordance with Accounting Practices Adopted in Brazil applicable to institutions authorized to operate by
the Brazilian Central Bank, on 02/05/2025, and for the consolidated financial statements of the Company in accordance with the IFRS as
issued by the IASB made available on 02/28/2025. These documents can be found on the electronic address of CVM (www.cvm.gov.br), or of
the Company (www.ri.santander.com.brand www.santander.com.br/acionistas), according to information shown in <B><U>Exhibit II</U></B> to
this Management Proposal.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Company's management proposes that the shareholders
examine in detail the management accounts and the Company's Financial Statements so that they can deliberate about their approval.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.1.2. To DECIDE on the allocation of net
income for the year 2024 and the distribution of dividends.</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; color: red; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(a) Net Profit Allocation</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Management presents a proposal for the fiscal year 2024
net profit allocation in compliance with the provisions of Article 10, first paragraph, item II and the respective Annex A to CVM Resolution
81/22. Said proposal is contained in the <B><U>Exhibit III</U></B> to this Management Proposal.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The net profit of the Company in the fiscal year 2024 was
R$ 13,035,452,353.20 (thirteen billion and thirty-five million, four hundred and fifty-two thousand, three hundred and fifty-three reais
and twenty cents).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Management proposes the following allocation for net income
for the year 2024:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">1. The amount of R$ 651,772,617.66 (six hundred and fifty-one
million, seven hundred and seventy-two thousand, six hundred and seventeen reais and sixty-six cents), to the Company&#8217;s legal reserve
account;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">2. The amount of R$ 6,000,000,000.00 (six billion reais),
as dividends and Interest on Equity to shareholders, which have been the object of decision in the meetings of the Board of Directors
held on January 11, 2024, April 10, 2024, July 10, 2024, October 10, 2024, of which R$ 5,800,000,000.00 (five billion and eight hundred
million reais), as Interest on Equity allocated within the mandatory minimum dividends and R$ 200,000,000.00 (two hundred million reais),
in the form of interim dividends; and</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">3. The balance of the remaining net profit after the distributions
above, to the value of R$ 6,383,679,735.54 (six billion, three hundred and eighty-three million, six hundred and seventy-nine thousand,
seven hundred and thirty-five reais and fifty-four cents), for the Dividend Equalization Reserve account, pursuant to Article 36, item
III-a of the Company's Bylaws.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Management understands that the proposal for allocation
of net profits above was formulated in accordance with the legal and statutory obligations applicable to the Company, and is in line with
the goals and strategies of the Company, which is why the board recommends its approval without restrictions.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>(b) Distribution of Dividends</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As better detailed in the <B><U>Exhibit III</U></B> to this
Management Proposal, the Company management has approved the distribution to its shareholders the global amount of R$6,000,000,000.00
(six billion reais), as dividends and Interest on Equity to shareholders, which have been the object of decision in the meetings of the
Board of Directors held on January 11, 2024, April 10, 2024, July 10, 2024, October 10, 2024, of which R$ 5,800,000,000.00 (five billion
and eight hundred million reais), as Interest on Equity allocated within the mandatory minimum dividends and R$ 200,000,000.00 (two hundred
million reais), in the form of interim dividends and was paid to shareholders based on their respective interests in the Company's capital
stock.</P>


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<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.1.3. To FIX the number of term of office
that will compose the Board of Directors in the mandate from 2025 to 2027.</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Company&#8217;s management proposes that the Board of
Directors comprises of ten (10) members for a term of office to be effective between the Ordinary General Meeting of 2025 and the Ordinary
General Meeting of 2027.</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.1.4. To ELECT the members of the Company's
Board of Directors for a term of office from 2025 to 2027.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">After complying with the applicable governance approvals,
the Company proposes to the OGM the election for a new term of two (2) years, of the following candidates recommended by the controlling
shareholders to compose the Board of Directors of the Company:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top; background-color: #EB0000">
    <TD STYLE="width: 49%; border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>Name</B></FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>Position</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Deborah Stern Vieitas</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">President (Independent)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Javier Maldonado Trinchant</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Vice President</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Cristiana Almeida Pipponzi</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Cristina San Jose Brosa</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Deborah Patricia Wright</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Ede Ilson Viani</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Jos&eacute; de Paiva Ferreira</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Mario Roberto Opice Le&atilde;o</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Pedro Augusto de Melo</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Vanessa de Souza Lobato Barbosa</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Director</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The information related to the election of the members of
the Board of Directors of the Company, pursuant to article 11 of CVM Resolution 81/22, can be found in the <B><U>Exhibit IV</U></B> to
this Management Proposal.</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>4.1.5. To FIX the annual global compensation
of the Company&acute;s management and members of Audit Committee for the year of 2025.</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The management presents a proposal for remuneration of the
Company&#8217;s management, complying with the provisions of Article 13, items I and II of CVM Resolution 81/22 and item 8 of the Reference
Form of the Company, on the terms of <B>Exhibit V</B> to this Management Proposal.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">For the period from January to December 2025, the amount
proposed by management as global compensation for the Company&#8217;s management (Board of Directors and Executive Board) is up to R$
600,000,000.00 (six hundred million reais), covering fixed remuneration, variable remuneration and the stock base remuneration.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The amount proposed by the Board of Directors as global
compensation for the members of the Audit Committee for the period of twelve (12) months from January 1, 2025 is up to R$ 4,000,000.00
(four million reais).</P>


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<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>4.2. At the Extraordinary General Meeting:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.2.1 To AMEND art. 30 of the Company&#8217;s
Bylaws, to adapt the rules for the composition and term of office of the Audit Committee to the Central Bank of Brazil&#8217;s standard
&#8211; CMN Resolution 4,910/21.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The Company's management proposes the approval of the amendment
to article 30 and its paragraph 2 of the Bylaws to align the rules of composition and term of office of the Audit Committee with the provisions
of CMN Resolution 4,910/21, issued by the Central Bank of Brazil. This update aims to ensure compliance with current regulations and strengthen
the Company's governance.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In compliance with Article 12 of CVM Resolution 81/22, <B><U>Exhibit
VI</U></B> of this Proposal contains a comparative table, including the current wording, proposed wording and justification for the amendment
to the Company's Bylaws.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">4.2.2 To CONSOLIDATE the Company&#8217;s
Bylaws.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In view of the amendment proposed in the previous item of
the Agenda, the Company's management proposes that, if the amendment is approved, the consolidation of the Company's Bylaws shall also
be approved, in the form of <B><U>Exhibit VII</U></B> of this Proposal.<B><U><BR STYLE="clear: both">
</U></B></P>


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<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT I:<BR>
TEMPLATE OF POWER OF ATTORNEY</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>[SHAREHOLDER]</B>,
<B>[QUALIFICATION]</B> (&#8220;Grantor&#8221;), appoints as his/her/its attorneys-in-fact Messrs. <B>CAROLINA SILVIA ALVES NOGUEIRA TRINDADE</B>,
Brazilian, married, registered with OAB/RJ under no. 182.414 and under the CPF/ME under no. 124.143.167.13; and <B>RAFAEL TRIDICO FARIA</B>,
Brazilian, married, registered with OAB/SP 358.447 and under the CPF/ME under no. 409.544.508-41, both of them lawyers, with commercial
address in the Capital City of the State of S&atilde;o Paulo, at Avenida Presidente Juscelino Kubitschek Nos. 2041 - Bloco A - Vila Nova
Concei&ccedil;&atilde;o (&#8220;Grantees&#8221;) to represent, collectively or individually, regardless of the order of appointment, the
Grantor, as shareholder of Banco Santander (Brasil) S.A. (&quot;Company&quot;), at the Company's Ordinary and Extraordinary General Meetings
to be held, on first call, on April 25, 2025, at 3:00 PM, at the Company's principal place of business, at Avenida Presidente Juscelino
Kubitschek No. 2041 - 2nd mezzanine, Vila Nova Concei&ccedil;&atilde;o, S&atilde;o Paulo/SP, and if necessary on second call, on a date
to be informed in due course, to whom powers are granted to attend the meeting and vote, on behalf of the Grantor, in accordance with
the voting guidelines set forth below for each of the items on the Agenda:</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>At the Ordinary General Meeting:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To TAKE the management accounts, to examine, discuss and vote
on the Company&#8217;s Financial Statements related to the fiscal year ended on December 31, 2024, accompanied by the Management Report,
the balance sheet, other parts of the financial statements, external auditors&#8217; opinion and the Audit Committee Report.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>(ii)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To DECIDE on the allocation of net income for the year 2024
and the distribution of dividends.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>(iii)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To FIX the number of members that will compose the Board of
Directors in the term of office from 2025 to 2027.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>(iv)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To ELECT the members of the Company's Board of Directors for
a term of office from 2025 to 2027.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>(v)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To FIX the annual global compensation of the Company&acute;s
management and members of Audit Committee for the year of 2025.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>At the Extraordinary General Meeting:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To AMEND art. 30 of the Company&#8217;s Bylaws, to adapt the
rules for the composition and term of office of the Audit Committee to the Central Bank of Brazil&#8217;s standard &#8211; CMN Resolution
4,910/21; and</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(ii)</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To CONSOLIDATE the Company&#8217;s Bylaws.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">( ) In favor&#9;( ) Against&#9;( ) Abstention</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The Grantees are hereby authorized to abstain from any resolution
or act for which they have not received, at their discretion, sufficiently specific voting guidelines. The Grantor shall hold the Grantees
above harmless and free from any and all claims, disputes, demands, losses, or damages, of any nature, arising from the fulfillment of
this instrument, except in cases of acts performed in an abusive and excessive manner, pursuant to the legislation in effect.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">This power of attorney shall only be valid for the Company's
Ordinary and Extraordinary General Meeting mentioned above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">[Location], [day] of [month] 2025.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">_____________________________________________</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">[Signature of Grantor]<BR STYLE="clear: both">
</P>


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<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT II</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">COMMENTS OF THE MANAGEMENT TO THE FINANCIAL
CONDITION OF THE COMPANY</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">(Pursuant to Item III of the article 10
of CVM Resolution 81/22)</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>2.1. Officers must comment on:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 35.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>General financial and equity conditions
</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 34pt"></TD><TD STYLE="width: 54pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(i)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Economic situation</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The deterioration in the perception of
fiscal risk, with a significant devaluation of the exchange rate, accentuated the de-anchoring of inflation expectations.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">The main macroeconomic event of the fourth quarter
of 2024 was the announcement of measures to contain federal public spending, whose initial impact did not reach expectations. The government
projected a total cut of R$ 70 billion in two years, but Banco Santander estimates a lower potential, around R$ 50 billion. The perception
that the announced measures were insufficient significantly affected asset prices and the expectations of economic agents. The exchange
rate of the real against the US dollar, for example, reached its nominal all-time high of R$ 6.32/US$ in December. Likewise, the IPCA
projections, according to the Focus survey, increased throughout the release horizon, moving even further away from the center of the
target pursued by the Central Bank.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The Copom made adjustments of greater magnitude
to the Selic, raising the basic interest rate to 12.25% p.a. by the end of 2024.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">The conditions of the interest rate decision
by the Central Bank of Brazil pointed to the need for a more contractionary monetary policy. After starting the hiking cycle gradually,
with increases of 0.25 p.p., the committee accelerated the pace in the fourth quarter of 2024, raising the rate by 0.50 p.p. in November
and 1.00 p.p. in December. In addition, in the face of a more adverse scenario for the convergence of the IPCA, the Committee foresees
adjustments of the same magnitude at the meetings in the first quarter of 2025, which would take the Selic to 14.25%, if its basic scenario
is confirmed. Based on this guidance, Banco Santander now estimates that the Selic will reach 15.50% in June 2025. This change is also
consistent with the revision of the inflationary scenario; Banco Santander now projects that the IPCA will be 5.5% in 2025.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Higher-than-expected GDP performance in
3Q24, with emphasis on the more cyclical components on the supply, consumption and investment sides.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">In contrast to Banco Santander's expectations
and the median of market projections, GDP in the third quarter of 2024 surprised positively, registering strong growth. According to Banco
Santander, this performance was mainly driven by the resilience of the labor market and the accumulation of recent fiscal stimulus. As
a result, there was a new wave of upward revisions in GDP growth projections for 2024. At the end of the third quarter of 2024, the median
of the economic agents' projections indicated a growth of 3.0% for the Brazilian GDP in 2024. At the end of the fourth quarter of 2024,
this median rose to 3.5%, in line with Banco Santander's current projection.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Trump's expressive victory in the US presidential
elections, with the so-called &quot;red-sweep&quot;, which means victory for the Republicans in both the Senate and the House of Representatives.
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">This fact should reinforce the campaign proposals,
bringing challenges to commercial partnerships with tariff impositions, with significant impacts on global growth.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">In addition, the resilience of the US economy
along with inflation still above the target pressures the US central bank (Fed) to adopt a more cautious stance, signaling fewer interest
rate cuts, and at a slower pace for 2025.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The geopolitical scenario continues with
different points of tension, in Europe, the Middle East and Asia.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">This environment, added to the uncertainties
with the new North American leadership, intensify doubts about growth.</P>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Announcement of monetary stimulus and signaling
of fiscal stimulus by the Chinese authorities, but below analysts' expectations. More stimulus could come in the event of an intensification
of the trade dispute with the US.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 34pt"></TD><TD STYLE="width: 54pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>(ii)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Consolidated performance</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>2024 </I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">For the year ended December 31, 2024, we reported
consolidated net income of R$13.4 billion, an increase of 41.2% compared to 2023. Total assets for the year ended December 31, 2024 reached
R$1,238,797 million, an increase of 11.4% compared to 2023. Shareholders' equity reached R$119,492 million and adjusted ROAE (excluding
the effect of goodwill) was 14.6% in 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">Our Basel capital adequacy ratio, in accordance
with Central Bank standards, was 14.3% as of December 31, 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">As of December 31, 2024, our portfolio of loans
and advances to gross customers grew 8.7%, reaching R$599,688 million, compared to R$551,536 million on December 31, 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">The following table presents a managerial breakdown
of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Variations between December 31, 2024 vs. December 31, 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 37%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>R$ million</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Natural person</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">287.021</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">255.704</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">243.399</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">31.317</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10,91%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Consumer finance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">75.119</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">62.501</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">58.824</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.618</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16,80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Small and Medium Enterprises</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">73.274</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">64.970</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">62.916</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.304</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11,33%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Large Companies <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">164.274</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">168.361</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">159.516</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(4.087)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-2,49%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>599.688</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>551.536</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>524.655</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>48.152</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>8,03%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(1)</TD><TD STYLE="text-align: justify">Companies with annual gross revenues of more than R$200 million, including our global corporate clients.</TD></TR></TABLE>

<P STYLE="font: 8pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our total funding as of December 31, 2024 was R$926,450
million, an increase of 8.8% compared to R$851,742 million on December 31, 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>2023 </I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">For the year ended December 31, 2023, we reported
consolidated net income of R$9.5 billion, a reduction of 33.8% compared to 2022. Total assets for the year ended December 31, 2023 reached
R$1,115,653 million, an increase of 13.2% compared to 2022. Shareholders' equity reached R$114,453 million and adjusted ROAE (excluding
the effect of goodwill) was 11.3% in 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">Our Basel capital adequacy ratio, in accordance
with Central Bank standards, was 14.5% as of December 31, 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">As of December 31, 2023, our portfolio of loans
and advances to gross customers grew 5.1%, reaching R$551,536 million, compared to R$524,655 million on December 31, 2022.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">The following table presents a managerial breakdown
of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.</P>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Variations between December 31, 2023 vs. December 31, 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 34%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>R$ million</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Natural person</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250.439 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;243.399 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;203.678 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.040 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Consumer finance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62.501 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;58.824 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;55.441 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.677 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Small and Medium Enterprises</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64.970 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;62.916 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;59.602 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.054 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3,2%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Large Companies <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173.626 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;159.516 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;174.634 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.110 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551.536 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;524.655 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;493.355 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.881 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>4,9%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(1)</TD><TD STYLE="text-align: justify">Companies with annual gross revenues of more than R$200 million, including our global corporate clients.</TD></TR></TABLE>

<P STYLE="font: 8pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our total funding as of December 31, 2023 was R$851,742
million, an increase of 14.9% compared to R$741,611 million on December 31, 2022.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B><I>2022</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">For the year ended December 31, 2022, we reported
consolidated net income of R$14.4 billion, a reduction of 7.8% compared to 2021. Total assets for the year ended December 31, 2022 reached
R$985,451 million, an increase of 5.8% compared to 2021. Shareholders' equity reached R$110,183 million and adjusted ROAE (excluding the
effect of goodwill) was 14.2% in 2022.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">Our Basel capital adequacy ratio, in accordance
with Central Bank standards, was 13.9% as of December 31, 2022.</P>


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<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">As of December 31, 2022, our portfolio of loans
and advances to gross customers grew by 6.3%, reaching R$524,655 million, compared to R$493,355 million on December 31, 2021.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 35.45pt; text-align: justify">The following table presents a managerial breakdown
of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman,serif; padding-left: 56.7pt; text-indent: -28.35pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">For the year ended December
    31</P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">Variations between December
    31, 2022 vs. December 31, 2021</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 38%; font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">2022</P></TD>
    <TD STYLE="width: 11%; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">2021</P></TD>
    <TD STYLE="width: 11%; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">2020</P></TD>
    <TD STYLE="width: 13%; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">R$ million</P></TD>
    <TD STYLE="width: 15%; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: bold 8pt Verdana,sans-serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">%</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font: bold 8pt Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif">(in millions of R$, except percentages)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 9.35pt; padding-left: 9.35pt; text-align: justify; text-indent: -9.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Natural person</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">243.399</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">203.678</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">174.042</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39.721</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">17,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 9.35pt; padding-left: 9.35pt; text-align: justify; text-indent: -9.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Consumer finance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">58.824</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">55.441</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">51.637</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.383</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7,4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 9.35pt; padding-left: 9.35pt; text-align: justify; text-indent: -9.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Small and Medium Enterprises</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">62.916</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59.602</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">54.525</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.314</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 9.35pt; padding-left: 9.35pt; text-align: justify; text-indent: -9.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Large Companies <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">159.516</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">174.634</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">137.618</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(15.118)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">26,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 9.35pt; padding-left: 9.35pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>524.655</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>493.355</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>417.822</B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31.300</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>18,1%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(1)</TD><TD STYLE="text-align: justify">Companies with annual gross revenues of more than R$200 million, including our global corporate clients.</TD></TR></TABLE>

<P STYLE="font: 8pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our total funding as of December 31, 2022 was R$741,611
million, an increase of 6.5% compared to R$696,104 million on December 31, 2021</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Structure:
</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD COLSPAN="7" STYLE="white-space: nowrap; border: #E7E6E6 1pt solid; background-color: #C00000; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Liability Structure </B></FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 40%; border-left: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>LIABILITIES</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 10%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Dec/23</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 10%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% of total liabilities</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 10%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Dec/23</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 10%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% of total liabilities</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 8%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Dec/22</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 10%; border-bottom: #E7E6E6 1pt solid; border-right: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% of total liabilities</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; border-left: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>In millions of Reais </B></FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; border-left: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity &#8211; Shareholders' Equity (1)</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">119.827</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">114.856</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">110.680</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11%</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; border-left: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Third-Party Capital &#8211; Short Term (2)</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">746.152</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">60%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">656.438</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">602.245</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">61%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; border-left: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Third-Party Capital &#8211; Long Term (3)</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">372.818</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">344.359</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">31%</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">272.526</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">28%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; border-left: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Liabilities </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.238.797</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.115.653</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>985.451</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #E7E6E6 1pt solid; border-bottom: #E7E6E6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes Non-Controlling
Interests</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current liabilities</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities
except Stockholders' Equity and Current Liabilities</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">Debt ratio, according to the formula: third-party capital / total
assets x 100, is 99.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In addition, the following table shows the direct shareholding
(common and preferred shares) as of December 31, 2023:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="width: 33%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Major Shareholders</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Common stock</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Percentage of Common Shares Outstanding</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Preferred Stock</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Percentage of Preferred Shares Outstanding</B></FONT></TD>
    <TD STYLE="width: 13%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Shares (thousands)</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Percentage of Total Share Capital</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Sterrebeeck BV (1) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">1.809.583.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">47,4%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">1.733.644.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">47,1%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">3.543.227.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">47,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Grupo Empresarial Santander SL (1) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">1.627.891.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">42,6%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">1.539.863.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">41,9%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">3.167.754.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">42,2%</FONT></TD></TR>

<TR>
    <TD STYLE="width: 33%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Banco Santander, S.A. </FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">2.696.000</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,1%</FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,0%</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">2.696.000</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Directors/Executives (2) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">2.828.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,1%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">2.828.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,1%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">5.656.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Treasury Shares </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">19.452.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,5%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">19.452.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,5%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">38.904.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">0,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt">Other minority shareholders </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">356.245.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">9,3%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">384.050.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">10,4%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">740.295.000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">9,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>3.818.695.000</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>3.679.837.000</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>7.498.532.000</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD></TR>
  </TABLE>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(1)</TD><TD STYLE="text-align: justify">It includes members of the Company's senior management.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(2)</TD><TD STYLE="text-align: justify">An affiliate of the Santander Group</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(i)</I></B></TD><TD STYLE="text-align: justify"><B><I>Equity and Participation of Non-Controlling Shareholders</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">On December 31, 2024, the Company's capital stock was R$
65,000,000,000.00, fully paid up and divided into 7,498,531,051 shares, all registered, book-entry and without par value.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In accordance with our bylaws currently in force, our capital
stock may be increased up to the limit of the authorized capital, regardless of changes to the bylaws, by resolution of our Board of Directors
and through the issuance of up to 9,090,909,090 new shares, it being established that the total number of preferred shares may not exceed
50.0% of the total number of outstanding shares. Any capital increase exceeding this limit requires shareholder approval.</P>

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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(ii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Equity and Third-Party Capital</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Income from equity instruments for
the year ended December 31, 2024 totaled R$84 million, an increase of R$61 million compared to the R$22 million for the year ended December
31, 2023, mainly due to lower dividend gains from an investment fund, Santander Fundo de Investimento Amazonas Multimercado Amazon.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Revenue from equity instruments for
the year ended December 31, 2023 totaled R$22 million, a reduction of R$16 million compared to the R$38 million for the year ended December
31, 2022, mainly due to lower dividend gains from an investment fund, Santander Fundo de Investimento Amazonas Multimercado Amazon.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(iii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Reference Equity &#8211; Basel Index </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">Our capital management is based on
conservative principles with continuous monitoring of the items that affect our level of solvency. We are required to comply with Brazilian
capital adequacy regulations in accordance with the rules of the Central Bank of Brazil. In October 2013, the new capital deployment regulations
and regulatory capital requirements of the Basel Committee on Banking Supervision (Basel III) came into force in Brazil. The minimum regulatory
capital requirement is currently 11%. The Tier I requirement is 6.0%, divided into basic capital of at least 4.5%, consisting primarily
of capital stock and profit reserves, including shares, ownership units, reserves and income earned, and additional capital consisting
primarily of certain reserves, earned revenues and securities and hybrid instruments as capital authorized by the Central Bank of Brazil.</P>

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<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">In accordance with the new rules on
regulatory capital in Brazil, the amount of goodwill for the calculation of the capital base was deducted in accordance with the phase-in
for the implementation of Basel III in Brazil, which was completed on January 1, 2019, and will be 100% thereafter.</P>

<P STYLE="font: 8pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">For the base year of 2024, the Reference Equity requirement
was 10.9%, including 8.0% of the Minimum Reference Equity, plus 2.5% of Capital Conservation Additional and 1.0% of Systemic Supplement.
The Tier I Reference Equity reaches 9.5% and the Minimum Principal Capital 8.0%.</P>

<P STYLE="font: 8pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in">For the base year of 2023, the
Reference Equity requirement was 11.5%, including 8.0% of the Minimum Reference Equity, plus 2.5% of the Capital Conservation Supplement
and 1.0% of the Systemic Supplement. The Tier I Reference Equity reaches 9.5% and the Minimum Principal Capital 8.0%.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>On December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 55%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(In millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Reference Heritage Level I</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">85.562,9</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">81.259,1</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">75.943,7</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Capital Principal </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">77.547,6</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">75.042,8</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">69.229,0</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Complementary Capital</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.015,3</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.216,3</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.714,7</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Reference Heritage Level II</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.488,4</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.644,2</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.109,8</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Reference Equity (Levels I and II)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>101.051,2</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>94.903,3</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>89.053,5</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Credit Risk Portion <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">603.286,5</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">560.780,9</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">559.230,6</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Market Risk Share <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43.523,7</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">33.002,7</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.332,1</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Operational Risk Share</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">60.643,3</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">60.491,1</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">60.073,2</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Required Reference Equity</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>707.453,5</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>654.274,7</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>638.635,9</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Basel Index Level I</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>12,09%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>12,43%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,89%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Basel Index Main capital </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>10,96%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,48%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>10,84%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Basel Index</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>14,28%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>14,51%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>13,94%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(1)</TD><TD STYLE="text-align: justify">Amounts calculated based on the consolidated information of the Prudential Consolidated.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(2)</TD><TD STYLE="text-align: justify">The credit risk exposures subject to the calculation of the capital requirement using a standardized approach
(RWACPAD) are based on the procedures established by BCB Resolution 229, of May 12, 2022.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(3)</TD><TD STYLE="text-align: justify">Includes the portions for market risk exposures subject to variations in interest rates (RWAjur1), foreign
currency coupons (RWAjur2), price indices (RWAjur3), and interest rate coupons (RWAjur4), commodity price (RWAcom), the price of shares
classified in the trading book (RWAacs), portions for gold exposure, foreign currency and transactions subject to exchange variation (RWAcam),
and adjustment for derivatives arising from changes in the credit quality of the counterparty (RWAcva).</TD></TR></TABLE>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ability to
pay in relation to the financial commitments assumed </B></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our Executive Board understands that we have sufficiently
adequate financial and equity conditions for the payment of our commitments assumed.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The management of our payment capacity is carried out
dynamically through the implementation of limits and control models, approved and monitored by the Assets and Liabilities Committee
(ALCO), which acts in accordance with the guidelines and procedures established by the Santander Group and the Central Bank. The
control and management of the payment capacity is carried out through the analysis of cash flow positions, structural liquidity and
simulations of potential losses of resources under <I>stress scenarios</I>. A funding plan is also prepared that takes into account
the best structuring of funding sources to achieve the necessary diversification in terms of maturities, instruments and markets, in
addition to the establishment of contingency plans. These controls, added to the maintenance
of a minimum liquidity margin, guarantee sufficient resources to honor customer deposits and other obligations, grant loans and financing
to customers, meet their own working capital needs for investment and face any risks related to liquidity crises.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">We actively manage risks intrinsic to commercial banking,
such as structural risks of interest rates, liquidity and exchange rates. Our financial management objective is to make net interest income
from business activities more stable and recurrent while maintaining adequate levels of liquidity and solvency. Financial management also
analyzes the structural interest rate risk derived from divergences between the maturity and review dates of assets and liabilities in
each of the currencies we operate.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the intervals between pricing
dates of financial assets and liabilities with different maturity dates, on December 31, 2024, 2023 and 2022, respectively (liquidity
position):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>2024</B></FONT></TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; width: 28%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In sight</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Up to 3 months</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 12 months</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>1 to 3 years</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 5 years</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>After 5 years</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Active:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Availability </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.132</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21.952</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">37.084</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Debt Instruments <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">110</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">28.818</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43.427</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">80.645</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">56.763</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">74.410</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">284.173</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.118</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">572</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">199</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.988</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and other amounts with credit institutions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">42</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.747</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.401</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.207</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.158</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">623</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30.178</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">38.842</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">149.527</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">112.549</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">147.550</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">68.790</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">48.830</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">566.090</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">17.118</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">588</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">18.411</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.701</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.365</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">40.206</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Reserves at the Central Bank of Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">167.800</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">167.800</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>224.067</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>224.734</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>161.165</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>258.914</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>133.413</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>126.228</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.128.520</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Passive:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial liabilities at amortized cost:</FONT></TD>
    <TD STYLE="white-space: nowrap; border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deposits of credit institutions <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.388</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">72.721</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">66.516</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.939</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.038</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">963</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">158.565</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Customer Deposits <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">227.425</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">184.353</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">87.236</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">46.522</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59.475</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">57</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">605.068</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Bonds for securities <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.042</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.981</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">42.216</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">55.261</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.177</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">139.678</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Eligible Debt Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.138</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.138</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.122</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">20.529</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.482</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">37.652</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.378</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">79.177</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">972</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.729</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.638</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.873</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">18.185</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39.397</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.507</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.612</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.540</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.652</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.099</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39.410</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>231.935</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>306.125</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>173.555</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>157.508</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>142.677</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>72.634</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.084.434</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom; background-color: red">
    <TD STYLE="white-space: nowrap; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>2023</B></FONT></TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: red">
    <TD STYLE="white-space: nowrap; width: 30%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In sight</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Up to 3 months</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 12 months</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>1 to 3 years</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 5 years</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>After 5 years</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Active:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Availability </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.213</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.909</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.122</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: bottom; width: 30%; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Debt Instruments <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">412</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">69.311</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.259</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">120.486</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">36.520</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.427</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">244.415</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.768</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">365</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">156</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">149</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.438</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and other amounts with credit institutions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">55</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.259</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.101</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.974</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">320</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">25.717</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">24.034</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">130.798</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">120.472</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">136.238</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">56.969</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">49.466</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">517.977</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">28</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.347</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">874</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">17.727</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.036</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.283</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">29.295</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Reserves at the Central Bank of Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">170.868</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">170.868</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>207.378</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>228.989</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>135.862</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>288.574</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>94.845</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>59.184</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.014.832</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Passive:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial liabilities at amortized cost:</FONT></TD>
    <TD STYLE="white-space: nowrap; border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deposits of credit institutions <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">398</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43.945</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">57.342</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.884</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.919</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">118.512</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Customer Deposits <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">73.434</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">248.147</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">105.183</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">99.181</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">53.189</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.087</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">583.221</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Bonds for securities <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.969</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">35.762</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">67.809</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.613</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.245</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">124.398</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Eligible Debt Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">391</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">812</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.261</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.417</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.746</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.627</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.493</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.473</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.863</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43.926</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">64.794</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">723</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.673</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.182</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.741</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.513</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.832</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.344</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.013</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.858</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.674</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.050</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">24.939</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>75.325</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>326.992</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>208.648</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>240.101</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>63.697</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>40.560</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>955.323</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom; background-color: red">
    <TD STYLE="white-space: nowrap; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>2022</B></FONT></TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: red">
    <TD STYLE="white-space: nowrap; width: 36%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>In sight</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Up to 3 months</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 12 months</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>1 to 3 years</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>3 to 5 years</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>After 5 years</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: #F2F2F2"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Active:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Availability </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21.589 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">415 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">22.003</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Debt Instruments <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16.743 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.128 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">24.067 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">51.980 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">33.417 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">70.577 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">202.913 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.474 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">116 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.639 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and other amounts with credit institutions</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">54 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">542 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.740 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.724 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">641 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">20.713 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.271 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">123.503 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">117.101 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">152.555 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">38.944 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">47.255 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">490.630 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.365 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.828 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.661 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.034 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.081 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21.976 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Reserves at the Central Bank of Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">96.850 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30.787 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">127.637 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>148.987 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>165.784 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>154.853 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>217.923 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>76.035 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>124.930 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>888.511 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Passive:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial liabilities at amortized cost:</FONT></TD>
    <TD STYLE="white-space: nowrap; border: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deposits of credit institutions <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">356 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">95.792 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">237 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14.469 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.902 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.323 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">116.079 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Customer Deposits <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">77.835 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">185.159 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">98.821 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">85.233 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">42.787 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">119 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">489.953 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Bonds for securities <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.206 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.356 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.545 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">44.723 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.150 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.140 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">107.121 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Eligible Debt Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.787 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">876 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.359 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.527 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.990 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.538 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">186 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">35.254 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.660 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.346 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">88 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">62.593 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">144 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.084 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.575 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.396 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.848 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">22.047 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.077 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.131 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.367 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.976 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.149 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">18.699 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>80.583 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>340.569 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>142.354 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>179.073 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>65.825 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27.628 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>836.031 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;They include obligations
that may be enforceable in advance, such as: demand and time deposits, repo operations with customers, LCI and LCA.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The following table shows financial assets and liabilities
by domestic and foreign currency, as of December 31, 2024, 2023 and 2022 (currency position):</P>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>On December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 29%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>National Currency</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>National Currency</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>National Currency</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Foreign currency</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Active</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Cash and reserves at the Central Bank</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14.584</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">22.501</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.959</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14.164</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.346</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.657</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">264.754</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.419</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">229.282</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15.132</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">185.814</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">17.098</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">27.298</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.879</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.877</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.839</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.784</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">929</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and other amounts with credit institutions, gross</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">482.117</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">83.973</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">444.022</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">73.955</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">416.127</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">74.503</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and advances to customers, gross</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.176</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">166</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.728</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">102</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.582</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">57</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>790.929</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>128.938</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>708.868</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>105.192</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>635.653</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>103.244</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Passive</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial liabilities at amortized cost</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Central Bank and credit institution deposits</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">72.493</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">86.072</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">49.475</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">69.037</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59.366</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">56.713</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">552.831</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">52.237</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">538.5</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">44.721</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">457.188</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.765</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Bonds for securities</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">117.332</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">18.301</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">110.935</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.463</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">92.638</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14.483</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity Eligible Debt Instruments</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.138</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.832</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.538</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">118.202</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">371</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">64.68</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">114</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">71.371</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">143</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>883.996</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>156.981</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>783.422</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>127.335</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>700.101</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>104.104</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/115% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sources of
financing for working capital and investments in non-current assets used </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The following table shows the composition of the withdrawals
on the dates indicated:</P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>On December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 70%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>(in millions of R$)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Customer deposits </B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>605.068</B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>583.220</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>489.953</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Current accounts </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">41.297</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">36.599</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">26.607</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Savings accounts </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">57.369</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">58.075</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">60.171</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term deposits </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">425.287</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">390.497</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">339.943</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Repurchase agreements </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">81.115</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">98.049</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">63.232</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 13.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Private Securities-backed Operations (1) </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">13.689</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">21.550</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">17.309</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 13.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Operations guaranteed by Public Securities </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">67.426</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">76.499</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">45.923</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Deposits of the Central Bank of Brazil and credit institutions </B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>158.566</B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>118.512</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>116.079</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Demand deposits </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">859</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">5.100</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">3.521</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term deposits (2) </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">126.588</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">95.290</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">87.824</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Repurchase agreements </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">31.119</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">18.122</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24.734</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 13.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Private Securities-backed Operations (1) </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">14</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">63</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">70</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 13.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Operations guaranteed by Public Securities </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">31.105</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">18.059</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24.664</FONT></TD></TR>

<TR>
    <TD STYLE="width: 70%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Total deposits </B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>763.634</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>701.732</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>606.033</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Marketable debt securities </B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>139.678</B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>130.383</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>116.042</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Agribusiness Letters of Credit </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">32.447</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">36.423</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24.045</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Financial Bills </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24.516</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">22.729</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">33.713</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Real Estate Credit Notes </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">62.864</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">57.619</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">43.776</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Other Securities </FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">19.851</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">13.612</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">14.508</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Debt Instruments Eligible to Compose Tier 1 and Tier 2 Capital </B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>23.138</B></FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>19.627</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>19.538</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 6.75pt; text-align: left; font-family: Times New Roman,serif; text-indent: 9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Total Funding </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>926.450</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>851.742</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>741.611</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">It mainly refers to repo operations backed by debentures.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Includes operations with credit institutions linked to export and import
financing lines, onlending from BNDES and FINAME and abroad in other credit lines abroad.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(i)</I></B></TD><TD STYLE="text-align: justify"><B><I>Deposits</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Customer Deposits</I>: Our balance of customer deposits was R$605.1
billion as of December 31, 2024, R$583.2 billion as of December 31, 2023 and R$490.0 billion as of December 31, 2022, representing 65.3%,
68.5% and 66.1% of our total funding, respectively.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Current Accounts</I>: Our current account balance was R$41.3
billion on December 31, 2024, R$36.6 billion on December 31, 2023 and R$26.6 billion on December 31, 2022, representing 5.4%, 5.2% and
4.4% of total deposits, respectively. </FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Savings Accounts</I>: Our savings account balance was R$57.3
billion on December 31, 2024, R$58.1 billion on December 31, 2023, and R$60.2 billion on December 31, 2022, representing 7.5%, 8.3%, and
9.9% of total deposits, respectively. </FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Customer Time Deposits</I>: Our balance of customer time deposits
was R$425.3 billion on December 31, 2024, R$390.5 billion on December 31, 2023, R$339.9 billion on December 31, 2022 and R$281.0 billion
on December 31, 2021, representing 55.7%, 55.6% and 56.1% of total deposits, respectively.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Repurchase Agreements</I>: We maintain a portfolio of Brazilian
public and private sector debt instruments used to obtain overnight funds from other financial institutions or investment funds through
the sale of such securities and simultaneously agreeing to repurchase them. Due to the short-term (<I>overnight</I>) nature of this source
of financing, such transactions are volatile and generally composed of Brazilian public securities and repurchase agreements linked to
debentures. Securities sold in repo operations decreased to R$81.1 billion on December 31, 2024, R$98 billion on December 31, 2023 and
R$63.2 billion on December 31, 2022, representing 10.6%, 14.0% and 10.4% of total deposits, respectively.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -28.35pt"><I>&nbsp;</I></P>


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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(ii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Central Bank and Credit Institutions Deposits</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 63.8pt; text-align: justify; text-indent: 21.3pt">Our balance of deposits
with the Central Bank of Brazil and credit institutions was R$158.6 billion on December 31, 2024, R$118.5 billion on December 31, 2023
and R$116.1 billion on December 31, 2022, representing 20.8%, 16.9% and 19.2% of total deposits, respectively.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: 21.3pt">Our deposit balance mainly
includes domestic loans and on-lending loans:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 21.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>Loan obligations</I>. We have relationships
with banks around the world, providing lines of credit linked to foreign currencies (either to the dollar or to a basket of foreign currencies).
We apply the proceeds of these transactions primarily to U.S. dollar-linked lending operations and, in particular, to <I>trade finance
operations</I>.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.75in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><I>National Transfers. </I>Loans from public
institutions, mainly BNDES and FINAME, for which we act as a financial agent. Financing from these sources in Brazil represents a method
of providing long-term loans with attractive average interest rates for certain sectors of the economy. The loans from these funds are
allocated by BNDES, through banks, to specific sectors focused on economic development. This type of loan is known as &quot;on-lending&quot;.
Because the funds transferred are usually matched and/or funded by loans from a federal government agency, we do not assume risk of mismatch
terms or interest rates, nor do we charge interest at a fixed margin on the cost of the funds. However, we retain the borrower's business
credit risk and therefore have discretion in the loan decision and application of credit criteria. This type of financing is not affected
by the requirement for compulsory deposit. Payout is usually guaranteed, although it is not required by the terms of the payout.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(iii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Other Means of Funding</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 42.55pt"><I>(iii.1)</I></TD><TD STYLE="text-align: justify"><I><U>Debt Securities</U></I></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 21.25pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our balance of marketable debt securities was R$139.7 billion
as of December 31, 2024, R$130.4 billion as of December 31, 2023 and R$116.0 billion as of December 31, 2022, representing 15.1%, 15.3%
and 15.6% of our total financing, respectively.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Agribusiness Letter of Credit, which are freely negotiable
credit notes and represent an unconditional promise of payment in cash, are issued exclusively by financial institutions and related to
credit rights arising from transactions carried out between rural producers and their cooperatives and agents in the agribusiness production
chain and foreign exchange acceptances, reached R$ 32.4 billion on December 31, 2024, R$36.4 billion on December 31, 2023 and R$24.0 billion
on December 31, 2022.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Financial Bills are a financing alternative available to
banks that may be characterized as senior or eligible to compose the reference equity, under the terms of CMN Resolution No. 5,007, of
March 24, 2022, their minimum term must be 24 months and must be issued for a minimum amount of BRL 300,000 for subordinated transactions
and BRL 50,000 for senior transactions. Our balance of treasury bills totaled R$24.5 billion as of December 31, 2024, an increase of 7.9%
compared to December 31, 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Real Estate Letters of Credit increased by 9.1%, from R$57.6
billion on December 31, 2023 to R$62.9 billion on December 31, 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">We carry out securities issuances, including under our Global
Medium-Term Bills Program. Our balance of securities was R$19.9 billion on December 31, 2024 and R$13.6 billion on December 31, 2023.
This change was mainly due to the fact that in 2023 we issued a higher aggregate value of securities than those that matured that year.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 21.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(iv)</I></B></TD><TD STYLE="text-align: justify"><B><I>Eligible Instruments to be composed of Tier I and Tier II</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">On November 5, 2018, our board of directors approved the
issuance, through our Cayman Islands agency, of debt instruments to form part of our benchmark Tier 1 and Tier 2 equity in the total amount
of $2.5 billion, pursuant to an offering made to non-U.S. persons pursuant to Regulation S of the U.S. Securities Act of 1993, as amended,
or the &quot;Notes Offer&quot;. Our Notes Offering was structured as follows: (i) US$1.25 billion indexed at 7.25% per annum with no maturity
(perpetual) and interest paid semiannually; and (ii) US$ 1.25 billion indexed at 6.125% per year maturing in November 2028 and interest
paid semiannually. These issuances were made through our branch office in the Cayman Islands and, as a result, do not generate income
tax liability at source. In addition, our board of directors has also approved the redemption of debt instruments issued to be part of
our regulatory Tier 1 and Tier 2 capital, as set forth in the board resolution of January 14, 2014. The proceeds from the Note Offering
were used to fund this redemption. On December 18, 2018, the Central Bank of Brazil authorized the transactions contemplated in the Offering
of Notes and the redemption, which were completed on January 29, 2019.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In November and December 2021, Santander Brasil issued Financial
Bills with a subordination clause, to be used to compose our Level 2 reference equity, in the total amount of R$5.5 billion. The Financial
Bills have a ten-year term and redemption and repurchase options in accordance with the applicable regulations. The Financial Bills had
an estimated impact of 92 basis points on our Tier 2 benchmark equity.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In October and November 2023, Santander Brasil exercised
its option to repurchase the Level 2 debt instruments issued in 2018 in the amount of US$1.25 billion. In its place to compose our Tier
2 regulatory capital, Santander Brasil issued financial bills with a subordination clause in the total amount of R$6.0 billion. These
new financial bills have a term of 10 years and redemption and repurchase options in accordance with applicable regulations.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In addition, on November 8, 2024, Santander Brasil also
exercised its repurchase option on certain Tier 1 debt instruments issued in 2018 in the amount of US$1.25 billion. In its place to compose
the Level 1 regulatory capital, Santander Brasil issued subordinated financial bills in the total amount of R$7.6 billion. These new financial
bills are perpetual with a repurchase clause exercisable from five years after their issuance, in accordance with the applicable regulations.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As of Dec. 31, 2024, the outstanding balance of Tier 1 and
Tier 2 debt instruments was R$23.1 billion, compared to R$19.6 billion as of Dec. 31, 2023.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(v)</I></B></TD><TD STYLE="text-align: justify"><B><I>Subordinated Debt</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 21.25pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As of December 31, 2024, we had no subordinated debt.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>and.&#9;Sources of funding for working capital and investments
in non-current assets that you intend to use to cover liquidity shortfalls </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Due to our stable and diversified sources of fundraising,
which include a large deposit base of its clients as detailed in item 10.1.d above, we have historically had no liquidity issues.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As part of our liquidity risk management, we have a formal
plan with measures to be taken in scenarios of systemic liquidity crisis and/or arising from any risk to our corporate image. This liquidity
contingency plan contains attention parameters, as well as preventive measures and actions to be activated in times of liquidity deficiency,
if reserves fall below certain parameters.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As sources of financing for working capital and for investments
in non-current assets used to cover liquidity deficiencies, the following resources may be used: (i) borrowing of deposits; (ii) bond
issuances; (iii) repo operations with public/private securities; (iv) transfer pricing review; (v) establishment of more restrictive credit
policies; and (vi) release of guarantee margin at B3 S.A. &#8211; Brasil Bolsa, Balc&atilde;o.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;levels of
indebtedness and the characteristics of such debts, further describing: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(i)</I></B></TD><TD STYLE="text-align: justify"><B><I>Relevant loan and financing agreements </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There are no loan agreements or other debt instruments that
our management deems to be material to us, with the exception of the debt securities issued by us described in Section 18 of the Reference
Form.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(ii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Other long-term relationships with financial institutions </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our main sources of funds are local deposits in the demand,
savings and time modalities, in line with other Brazilian banks, as well as funding in the open market, namely, bonds issued by the self-issued
and Federal Government bonds with a repurchase commitment (&quot;repo operations&quot;).</P>


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<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">We also have deposits in credit institutions related to
export and import financing lines raised from banks abroad and intended for application in commercial foreign exchange operations related
to export and import financing. We are also a party to long-term obligations via on-lending</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 42.55pt"><I>(ii.1)</I></TD><TD STYLE="text-align: justify"><I><U>Eurobonds and Securitization Notes - MT100 </U></I></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Foreign issuances of securities denominated in foreign currency
include securities and other securities (Eurobonds and Structured Notes). The following table demonstrates the detailed composition of
Eurobonds:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 11%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 27%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: red 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Emission</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Expiration until</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Interest Rate (p.a.)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2027</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">32.204</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2027</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">90.069</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2031</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.195.534 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">3.337.315</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">6.306.335</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2035</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.459.607 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">1.918.929</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">8.079.519</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2033</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.102.939 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">8.355.844</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">2035</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.093.246 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;19.851.326 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>13.612.088</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #7F7F7F 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>14.508.127</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 42.55pt"><I>(ii.2)</I></TD><TD STYLE="text-align: justify"><I><U>Subordinated debts </U></I></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: justify">We use subordinated debt instruments in our funding structure,
represented by securities issued in accordance with the rules of the Central Bank, which are used as Reference Equity - Level 2, to calculate
the operational limits, including Subordinated CDBs, certificates of deposit issued by us in the local market, in various issues, at interest
rates updated by the CDI or the IPCA.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/15pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(iii)</I></B></TD><TD STYLE="text-align: justify"><B><I>Degree of subordination between debts</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In the event of our judicial or extrajudicial liquidation,
there is an order of preference as to the payment of the various creditors of the estate provided for by law, which must be respected
under the terms of the Brazilian legislation in force at the time. Specifically with regard to the financial debts that make up our indebtedness,
the following order of payment must be observed: debts secured by collateral, unsecured debts and subordinated debts. It is worth mentioning
that, in relation to debts with real guarantee, creditors prefer the others up to the limit of the asset given as collateral and, as much
as there is left, they will have their credits included in the payment order of the unsecured creditors. Among unsecured creditors there
is no degree of subordination, just as there is no degree of subordination among the various subordinated creditors.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>


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<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><B><I>(iv)</I></B></TD><TD STYLE="text-align: justify"><B><I>any restrictions imposed on the Company, in particular, in relation to indebtedness limits and contracting
of new debts, the distribution of dividends, the sale of assets, the issuance of new securities and the sale of corporate control, as
well as whether the Company has been complying with these restrictions</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Regarding securities issued abroad, whose descriptions of
the operations and programs are described in Item 12.7 of the Reference Form (&quot;Securitization Program&quot; and &quot;Medium Term
Notes &#8211; MTN&quot;), the main restrictions imposed on the issuer, existing in financing agreements, are also described in the same
item, more specifically in sections 18.10.I.h.(v) and 18.10.II.h.( v).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>g.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Limits of financing contracted and percentages already used</FONT></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The information requested in this item is not applicable
to financial institutions. We are subject, however, to the parameters determined by the monetary authorities, in line with the Basel principles.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>h.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Significant changes in items on the income and cash flow statements
</FONT></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 54pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>(i)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>Assets and Liabilities (in millions
of reais): </I></B></FONT></TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Active</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2024</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Var. 2024x2023</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Var. 2023x2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Availability and Reserves at the Central Bank of Brazil </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">37.084</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">23.123</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">60,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">22.003</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Assets Measured at Fair Value in Profit or Loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">231.002</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">208.922</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10,6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">145.515</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43,6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Assets Measured at Fair Value in Other Comprehensive Income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">92.079</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59.052</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">55,9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">55.426</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Assets Measured at Amortized Cost</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">768.325</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">723.710</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6,2%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">663.824</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives Used as a Hedge </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">20,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.741</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-98,6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Non-Current Assets Held for Sales</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1042</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">914</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">699</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Interests in Affiliates and Joint Ventures</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.640</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.610</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">126,1%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.728</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-6,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Tax Credits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">59.790</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">52.839</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13,2%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">46.446</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other Assets </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.956</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.997</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.275</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-27,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Tangible Assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.022</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.086</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-15,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.191</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-13,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Intangible Assets </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.827</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.376</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">31.603</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2,4%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.238.797</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.115.653</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>985.451</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>13,2%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The main changes in balance sheet accounts for the years
2024, 2023 and 2022 are presented below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Liabilities and Shareholders' Equity</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2024</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Var. 2023x2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Var. 2022x2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Liabilities for Trading </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">78.677</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">43.596</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">80,5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">40.747</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Liabilities Measured at Fair Value in Profit or Loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4.046</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.986</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-32,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.922</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-32,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Financial Liabilities at Amortized Cost</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.001.581</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">910.551</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">795.284</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">14,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Derivatives Used as a Hedge</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">130</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.176</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-88,9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">100,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Provisions</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.977</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.473</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-4,3%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.115</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">25,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Tax Liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10.175</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13,1%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.811</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15,2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other Obligations </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">13.384</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.014</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-29,6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">12.892</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">47,5%</FONT></TD></TR>

<TR>
    <TD STYLE="width: 40%; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.118.970</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.000.796</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,8%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>874.771</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>14,4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Equity </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">126.199</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">118.421</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6,6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">114.669</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other Comprehensive Results </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-6.707</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-3.968</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">69,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-4.486</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-11,5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Stockholders' Equity Attributable to Controlling Shareholder </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">119.492</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">114.453</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">110.183</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Total Stockholders' Equity </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">119.827</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">114.856</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">4,3%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">110.680</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Liabilities and Equity </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.238.797</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.115.653</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>985.451</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>13,2%</B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our total assets reached, on December 31, 2023, R$1,238,797
million, an increase of 11% compared to 2023, whose total assets reached R$1,115,653 million, 13.2% higher than the year ended December
31, 2022, in the amount of R$985,451 million.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The portfolio of loans and advances to gross customers,
without guarantees and guarantees, totaled R$599,688 on December 31, 2024, an increase of 8.7% compared to R$551,536 million on December
31, 2023, an increase of 5.1% compared to R$524,655 million on December 31, 2022. Large Companies showed a reduction of 2.4% compared
to 2023, with an increase of 12.2% in the Individual segment.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Consolidated shareholders' equity totaled R$119,492 million
on December 31, 2024, R$114,453 million on December 31, 2023 and R$110,183 million on December 31, 2022, an increase of 4.4% on December
31, 2024 compared to 2023 and an increase of 3.9% on December 31, 2023 compared to 2022. The variation in shareholders' equity in the
year is mainly due to the growth in revenues, Net Income for the period in the amount of R$13,414 million and reduced by the highlight
of Dividends and Interest on Equity in the amount of R$6,000 million.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.2. The Officers must comment: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. results of the Company's operations: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left"><B>Results of Operations for the Years Ended December 31, 2024,
2023 and 2022</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table provides an overview
of the main core aspects of our operating results for the years ended December 31, 2024, 2023 and 2022:</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; border: #A6A6A6 1.5pt solid; padding: 4pt">
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Total Revenue </I></B>totaled R$73,757 million in 2024,
    an increase of 12%, or R$7,893 million compared to the year ended December 31, 2023, driven by the increase in net interest income and
    fee commissions.</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Consolidated Net Income </I></B>totaled R$13,414 million
    for the year ended December 31, 2024, an increase of 41% compared to the year ended December 31, 2023, mainly due to (i) a 12.0% increase
    in total revenue, as described above, (ii) an increase in net fee income of 10.0%, (iii) costs in line with the growth of inflation and
    (iv) an increase of 1.7% in impairment losses of financial assets (net), lower than the growth of the loan portfolio.</P>
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>The Customer Loan Portfolio </I></B>totaled R$599,688 million
    as of December 31, 2024, an increase of 8.7% compared to December 31, 2023, mainly due to the increase in our loan portfolio for Consumer
    Finance, SMEs (especially working capital and offshore lending) and individuals (especially credit cards, vehicle loans and payroll loans).</P></TD>
    <TD STYLE="width: 49%; border-top: #A6A6A6 1.5pt solid; border-right: #A6A6A6 1.5pt solid; border-bottom: #A6A6A6 1.5pt solid; padding: 4pt">
    <P STYLE="font: 9pt/106% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Exposure to credit risk</I></B> totaled R$750.4 billion
    on December 31, 2024, an increase of 4.2% compared to December 31, 2023, mainly due to the increase in said increase in our loan portfolio.</P>
    <P STYLE="font: 9pt/106% Verdana,sans-serif; margin: 0; text-align: left"><B><I>&nbsp;</I></B></P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Credit Quality </I></B>remains at reasonable levels
    and supports our growth. <B><I>The ratio of impaired assets to credit risk</I></B> was 5.6% in the year ended December 31, 2024, a decrease
    of 0.1 p.p. compared to the previous year.</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>The coverage ratio</I></B> was 84.4% in the year ended
    December 31, 2024, a reduction of 3.7 p.p. compared to the year ended December 31, 2023.</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Our Basel Capital Adequacy Ratio</I></B> was 14.3%
    for the year ended December 31, 2024, a decrease of 0.2 p.p. compared to the year ended December 31, 2023.</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/105% Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Central</I></B> Bank of Brazil deposits and deposits
    from credit institutions plus customer deposits increased by 8.8%, reaching R$764 billion in 2024, mainly due to time deposits (especially
    in personal loans), influenced by their greater attractiveness given current interest rate levels and coupled with our investment-focused
    strategy, highlighted by our AAA investment advisory offering. At Santander Corporate &amp; Investment Banking, the increase is especially
    in products such as offshore/term deposits. We continue to follow our financing plan based on optimizing the mix between individuals and
    wholesale banks.</P></TD></TR>
  </TABLE>
<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt/14pt Verdana,sans-serif; margin: 0 0 0 9.35pt; text-align: justify">Results of Operations</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table presents our consolidated
operating results for the years ended December 31, 2024, 2023 and 2022:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 23%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 13%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Net interest income </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56.679 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46.884 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47.503 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">20,9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-1,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Profits from equity instruments </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">277,3%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-42,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Company profits accounted for by the equity method </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">31,0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">20,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Net Fee and Commission Income (Expense) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.205 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.640 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.876 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">10,0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">5,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Gains (losses) on financial assets and liabilities (net) and foreign exchange differences (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.795 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-96,6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-19,2%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Other operating income (expenses) (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(652)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(716)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(841)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-8,9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-14,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>Total Profit </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73.757 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.864 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66.475 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>12,0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>-0,9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Administrative expenditure </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20.417)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19.563)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18.240)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">4,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">7,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Depreciation and amortization </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.731)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.741)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.586)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-0,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">6,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Provisions (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.595)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.424)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.215)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">3,9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">264,1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Impairment losses on financial assets (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.484)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.008)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24.829)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">1,7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">12,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Impairment losses on other assets (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">0,8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">55,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Other non-financial gains (losses) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.912 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.044 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">83,1%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">696,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>Operating profit before tax </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.190 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.922 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.575 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>61,0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>-39,1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">Income tax </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.776)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.423)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.235)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">138,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt">-53,7%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7.5pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>Consolidated net income for the year </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.414 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.499 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.339 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>41,2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7.5pt"><B>-33,8%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><I>Consolidated profit for the year</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Our consolidated net income for the year
ended December 31, 2024 was R$13,414 million, an increase of R$3,915 million, or 41.2%, compared to our consolidated net income of R$9,499
million for the year ended December 31, 2023, driven by the increase in the financial margin from credit operations and the improved performance
of market operations, despite the volatile macroeconomic environment; (ii) increase in net fee revenue of R$1,565 million, or 10.0%, to
R$17,205 million in the year ended December 31, 2024, from R$15,640 million in the year ended December 31, 2023, driven by higher results
in capitalization, insurance and cash management.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Our consolidated net income for the year
ended December 31, 2023 was R$9,499 million, a decrease of R$4,481 million, or 33.8%, compared to our consolidated net income of R$14,339
million for the year ended December 31, 2022, mainly due to (i) an increase in legal provisions of R$3,209 million, or 264%, to R$4,424
million in the year ended December 31, 2023, from R$1,215 million in the year ended December 31, 2022, driven by the increase in labor
provisions in the period; (ii) an increase in impairment losses on financial assets of R$3,179 million, or 12.8%, to R$28,008 million
in the year ended December 31, 2023, from R$24,829 million in the year ended December 31, 2022, driven by the deterioration of our loan
portfolio that was impacted by an increase in provisions as a result
of a specific case of a large customer in our credit segment wholesale, and (iii) a reduction in net interest income of R$619 million,
which was driven by lower credit revenues, attributable to a shift in the mix of our portfolio towards customers with a better risk profile
and focus on collateralized products, as well as a decrease in our performance in market operations.</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Net interest income</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net interest income for the year ended
December 31, 2024 was R$56,679 million, an increase of 20.9% or R$9,795 million compared to R$46,884 million in the year ended December
31, 2023. This increase was mainly due to the increase in revenue from: (i) credit products, especially in individuals and consumer financing,
driven by volume growth in products such as cards, payroll, vehicle credit and mortgage, and (ii) better performance in market operations.
This was partially offset by lower interest spreads, attributable to a shift in our portfolio mix to clients with a better risk profile
and a focus on secured products.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The average total profitable assets in
2024 was R$1,063.8 billion, an increase of 10.8% or R$104 million compared to R$959.8 billion in 2023. The main driver of this change
was an increase in the average value of loans and advances to customers and financial assets measured at fair value (i.e., debt and equity
instruments).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net interest income (net financial income
divided by assets with average yield) in 2024 was 5.3% and 4.9% in 2023, supported by the increase in the SELIC rate and the better mix
of credit products, following our strategy of increasing the share of individual segments.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The average total interest-bearing liabilities
in 2024 was R$849.3 billion, an increase of 11.9% or R$90.4 billion compared to R$758.9 billion in 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Finally, the net interest spread (the
difference between the interest on yielding assets and the average cost of interest-bearing liabilities) was 3.3% in 2024, mainly due
to a shift in our portfolio mix to clients with a better risk profile.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net interest income for the year ended
December 31, 2023 was R$46,884 million, a decrease of 1.3% or R$619 million compared to R$47,503 million in the year ended December 31,
2022. This reduction was primarily due to a reduction in credit revenues, impacted by lower interest rate spreads, attributable to a shift
in our portfolio mix towards clients with a better risk profile and focus on collateralized products. This was partially offset by volume
growth, driven by loan portfolios to households, SMEs and corporates. We also underperformed our market operations.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The average total profitable assets in
2023 was R$1,010.4 billion, an increase of 11.8% or R$107 million compared to R$903.4 billion in 2022. The main driver of this growth
was an increase of R$35.7 billion, or 7.1%, in the average value of loans and advance to customers.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Income from equity instruments </I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Revenue from equity instruments for the
year ended December 31, 2024 totaled R$84 million, an increase of R$61 million compared to R$22 million for the year ended December 31,
2023.</P>


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<P STYLE="font: 10pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Income from equity instruments for the
year ended December 31, 2023 totaled R$22 million, a reduction of R$16 million compared to the R$38 million for the year ended December
31, 2022, mainly due to higher dividend gains from an investment fund, Santander Fundo de Investimento Amazonas Multimercado Cr&eacute;dito.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Equity Result</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><BR>
The result of the companies accounted for by the equity method for the year ended December 31, 2024 was R$313 million, an increase of
R$74 million compared to the R$239 million for the year ended December 31, 2023, mainly due to an increase of R$53 million in the result
of Pluxee (which we acquired in 2024) and R$29 million in the result of Banco RCI.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The result of companies accounted for
using the equity method for the year ended December 31, 2023 was R$239 million, an increase of R$40 million compared to the R$199 million
for the year ended December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Net fee and commission income</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net revenue from fees and commissions
for the year ended December 31, 2024 was R$17,205 million, an increase of R$1,565 million, or 10.0%, compared to R$15,640 million for
the year ended December 31, 2023. This increase was primarily attributable to: (i) credit and debit cards, primarily due to the increase
in our customer base, number of transactions and customer spending, (ii) insurance and capitalization, reflecting improved performance
in loans (especially in consumer), and (iii) asset management and pension funds.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net credit and debit card fees and commissions
totaled R$4,414 million in the year ended December 31, 2024, an increase of 24.2% compared to the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net fees and commissions of asset managers
and pension funds totaled R$2,199 million in the year ended December 31, 2024, an increase of 10.5% compared to the year ended December
31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net insurance and capitalization rates
and commissions totaled R$4,741 million in the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net fee and commission revenues for the
year ended December 31, 2023 were R$15,640 million, an increase of 5.1% or R$764 million compared to R$14,876 million for the year ended
December 31, 2022. This was primarily attributable to (i) asset management and pension fund businesses, which recorded higher revenues
driven by our consortium products (&quot;consortia&quot;), (ii) card revenues, due to the increase in the number of transactions and customer
spending, and (iii) capital markets and trade finance, where we earned higher revenues from corporate financial intermediation and advisory
services.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net fee and commission revenues for the
year ended December 31, 2022 were R$14,876 million, a decrease of 2.6% or R$397 million compared to R$15,273 million for the year ended
December 31, 2021. This was primarily attributed to (i) a decrease in credit and debit card issuances as a result of a more selective
credit approval policy, (ii) the Getnet Spin-off (in the first quarter
of 2021), (iii) a decrease in current and account service fees (as a result of annual fee waiver campaigns and the increasing use of PIX
by customers as an alternative to traditional banking services). This was partially offset by an increase in collection and payment services
and asset management and pension funds.</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net fees and commissions for the administration
of funds and pension funds totaled R$1,990 million in the year ended December 31, 2023, an increase of 24.4% compared to the year ended
December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net trade finance fees and commissions
totaled R$1,926 million in the year ended December 31, 2023, an increase of 5.6% compared to the year ended December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net credit and debit card fees and commissions
totaled R$3,554 million in the year ended December 31, 2023, an increase of 12.8% compared to the year ended December 31, 2022, mainly
due to the growth in the number of transactions and customer spending.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Net capital market fees and commissions
totaled R$1,183 million in the year ended December 31, 2023, an increase of 6.4% compared to the year ended December 31, 2022. This increase
was mainly driven by an increase in revenues from intermediation and financial advisory services to companies.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table reflects the breakdown
of net fee and commission revenues for the years ended December 31, 2024, 2023 and 2022:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the Year Ended December 31</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 42%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Checking account services </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.314 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.255 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.267 </FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,8 </FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0,4)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Billing and payment services </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.738 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.801 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.790 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,5)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0,6 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Insurance and capitalization </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.741 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.303 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.357 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,2 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,2)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Asset Management and Pension Funds </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.199 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.990 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.600 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,5 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Credit and debit cards </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.414 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.554 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.151 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,2 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,8 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Capital markets </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.178 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.183 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.112 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0,4)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><I>Trade finance </I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.858 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.926 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.825 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,5)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,5 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Service tax </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(855)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(758)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(687)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,8 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,3 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.382)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.613)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.538)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14,3)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,9 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;17.205 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;15.641 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;14.876 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,0 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,1 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: italic 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&quot;Gains/losses on financial assets
and liabilities (net) and exchange rate variations (net)&quot;</P>

<P STYLE="font: italic 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in">Gains on financial assets and liabilities
(net) and exchange rate differences (net) for the year ended December 31, 2024 totaled R$129 million, a decrease of R$3,666 million compared to the gain of R$3,795 million
in the year ended December 31, 2023. This variation is mainly due to the lower gain on financial assets measured at fair value for profit
or loss, of R$3,441 million on December 31, 2023, compared to R$746 million on December 31, 2024.</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Gains on financial assets and liabilities
(net) and exchange rate differences (net) for the year ended December 31, 2023 totaled R$3,795 million, a reduction of R$904 million compared
to a gain of R$4,699 million in the year ended December 31, 2022. This variation is mainly due to (i) a loss of R$938 million related
to net gains or losses from hedge accounting. For more information, please refer to notes 36 and 37 of our audited consolidated financial
statements &#8211; included elsewhere in this annual report.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table presents our gains/losses
on financial assets and liabilities (net) and foreign exchange differences (net) in the periods indicated.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the Year Ended December 31</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 36%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Gains (losses) on financial assets and liabilities (net) and foreign exchange differences (net) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">129</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.795 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96,6)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,2)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Hedging effects <I>&nbsp;</I>of investments made abroad </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">665</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(507,3) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Gains (losses) on financial assets and liabilities (net) and foreign exchange differences (net) excluding the effects of hedging for investments held abroad (1) </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>794</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;3.632 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;4.570 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78,1)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20,5)</B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 4pt 0.25in; text-align: justify; text-indent: -0.25in">(1) Gains/losses on financial
assets and liabilities (net) and foreign exchange differences (net) excluding the effects of investment in <I>hedging</I> abroad are a
non-GAAP measure. For more information, see &quot;Item 3. Key Information &#8212; A. Selected Financial Data &#8212; Reconciliation of
Non-GAAP Measures and Ratios to the Most Directly Comparable IFRS Financial Measures.&quot;</P>

<P STYLE="font: 12pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Other Operating Profit/Expense</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other operating expenses in the year ended
December 31, 2024 totaled R$652 million, a reduction of R$64 million compared to expenses of R$716 million in the year ended December
31, 2023, mainly due to lower operating expenses.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other operating expenses in the year ended
December 31, 2023 totaled R$716 million, a reduction of R$125 million compared to expenses of R$841 million in the year ended December
31, 2022, mainly due to higher expenses with FGC pension plans due to the increase in the global balance of deposits.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Administrative Expenses</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Administrative expenses for the year ended
December 31, 2024 were R$20,417 million, an increase of R$854 million compared to expenses of R$19,563 million for the year ended December
31, 2023, mainly due to increased expenses with salaries and wages and related technologies and systems, per diem and travel expenses
and other administrative expenses as a result of the increase
in inflation in the period and the growth of our business.</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Administrative expenses for the year ended
December 31, 2023 were R$19,563 million, an increase of R$1,323 million compared to expenses of R$18,240 million in the year ended December
31, 2022, mainly due to higher expenses with salaries and salaries and specialized and technical services resulting from the increase
in inflation in the period and investments in business expansion.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Personnel expenses increased by R$784
million in the year ended December 31, 2024, mainly due to the increase in employee salaries and wages resulting from our collective bargaining
with employees in 2023, which impacted the first eight months of 2024, and our 2024 collective bargaining agreement, which impacted the
last four months of the year.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Personnel expenses increased by R$917
million in the year ended December 31, 2023, mainly due to higher employee salaries and salaries impacted by the 2022 collective bargaining
agreement, which was applied to salaries as of September 2022, as well as by the 2023 collective bargaining agreement, which was applied
to salaries as of September 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table presents our personnel
expenses for each of the periods indicated:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 34%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Salaries and wages </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.087 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.640 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.311 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,7 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,2 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Social insurance costs </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.692 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.654 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.431 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,3</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,6 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Benefits </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.753 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.659 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.603 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,7 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,5 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Training </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,3 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other personnel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,8 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,3 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;11.598 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;10.814 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;9.896 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,3 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,3 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other administrative expenses increased
by R$70 million to R$8,819 million in the year ended December 31, 2024, from R$8,749 million in the year ended December 31, 2023, mainly
due to higher technology and systems expenses, per diem and travel expenses and other administrative expenses, resulting from the increase
in inflation in the period and the growth of our business.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other administrative expenses increased
by R$406 million to R$8,749 million in the year ended December 31, 2023, from R$8,343 million in the year ended December 31, 2023, mainly
as a result of higher expenses with specialized and technical services, resulting from the increase in inflation in the period and investments
in business expansion.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table presents our other
administrative expenses for each of the periods indicated:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 37%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Technical and specialized services </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.414 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.397 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.229 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0,7 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,5 </FONT></TD></TR>

<TR>
    <TD STYLE="width: 37%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Real estate, improvements and supplies </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,0)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Technology and systems </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.410 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.384 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.577 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,1 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,5)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Advertising </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,1)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,5)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Communications </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30,0)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,0 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Daily allowances and travel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123,3 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Taxes other than income tax </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11,0)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Surveillance and courier services </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,6)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,4)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Insurance premiums </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,5)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,7 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other administrative expenditure </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.396 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.160 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,2 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,8 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;8.819 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;8.749 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;8.343 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0,8 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,9 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The efficiency ratio, calculated as total
administrative expenses divided by total profit, decreased to 27.7% in the year ended December 31, 2024, compared to 29.7% in the year
ended December 31, 2023. This 2.0% p.p. reduction in the index is mainly due to higher net income growth (driven by net interest income
and net fee revenue) and inflation-driven cost increases.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The efficiency ratio, calculated as total
administrative expenses divided by total profit, increased to 29.7% in the year ended December 31, 2023, compared to 27.4% in the year
ended December 31, 2022. This 2.3 p.p. increase in the ratio is mainly due to the reduction in net income (as a result of our more selective
credit approval strategy and lower performance in market operations) and an increase in administrative expenses.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Depreciation and Amortization</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Depreciation and amortization for the
year ended December 31, 2024 was R$2,731 million, a reduction of R$10 million, or 0.4%, compared to R$2,741 million for the year ended
December 31, 2023, mainly due to the increase in expenses with amortization of software items, resulting from the investments made in
this period.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Depreciation and amortization for the
year ended December 31, 2023 was R$2,741 million, an increase of 6.0% or R$155 million compared to R$2,586 million for the year ended
December 31, 2022, mainly due to higher expenses with amortization of hardware and software items, resulting from investments made in
the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Provisions (Net)</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The provisions primarily include provisions
for tax, civil, and especially labor claims. Provisions (net) totaled R$4,595 million in the year ended December 31, 2024, an increase
of R$171 million, or 3.9%, compared to R$4,424 million in the year ended December 31, 2023, mainly due to the increase in labor and civil
contingencies.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The provisions mainly include provisions
for tax, civil, and especially labor claims. Provisions (net) totaled R$4,424 million in the year ended December 31, 2023, an increase
of 264.0% or R$3,209 million compared to R$1,215 million in the year ended December 31, 2022, mainly due to an increase in labor contingencies.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>




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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Impairment Losses on Financial Assets
(Liquid)</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>
<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impairment losses and financial assets
(net) for the year ended December 31, 2024 were R$28,484 million, an increase of R$476 million compared to R$28,008 million for the year
ended December 31, 2023, mainly due to the growth of our retail portfolio and the effects of challenging macroeconomic conditions on our
SME portfolio.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impairment losses on financial assets
(net) for the year ended December 31, 2023 were R$28,008 million, an increase of R$3,179 million compared to R$24,829 million for the
year ended December 31, 2022, which was driven by an increase in provisions as a result of a specific case of a large customer in our
wholesale segment.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Our exposure to credit risk increased
by R$30.5 billion to R$750.4 billion as of December 31, 2024, compared to R$719.9 billion as of December 31, 2023. In addition, our impaired
assets increased by R$2.4 billion, from R$39.9 billion on December 31, 2023 to R$42.2 billion on December 31, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Our exposure to credit risk increased
by R$55.3 billion to R$719.8 billion as of Dec. 31, 2023, compared to R$664.5 billion as of Dec. 31, 2022. In addition, our impaired assets
increased by R$0.7 billion, from R$39.2 billion on December 31, 2022. to R$39.9 billion in the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table shows the ratio of
our non-recoverable assets to total credit risk exposure and our coverage ratio as of December 31, 2024, 2023 and 2022.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>On December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Loans and advances to customers, gross </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559.688 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551.536 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524.655 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impaired assets </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42.242 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.887 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.224 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;Impairment loss provisions </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.669 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.153 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.212 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Non-GAAP Credit Risk Exposure &#8211; Customers </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750.357 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719.881 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664.537 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Indexes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment assets for credit risk exposure </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Coverage Index </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><SUP>(2) </SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">84,4%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">88,1%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">89,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment losses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.484)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.008)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24.829)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Impairment of financial assets (net) </B></FONT><B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><SUP>(3) </SUP></FONT></B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.484)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28.008)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24.829)</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">________________________________</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Verdana,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2%">(1)</TD><TD STYLE="text-align: justify">Credit risk exposure is a non-GAAP financial measure. Credit risk exposure is the sum of the amortised
cost values of loans and advances to customers (including impaired assets), guarantees and private securities (securities issued by non-governmental
entities). We have included off-balance sheet information in this measure to better demonstrate our total managed credit risk. For more
information, see &quot;Item 3. Key Information&#8212;A. Selected financial data &#8211; reconciliation of non-GAAP measures and ratios
to its most directly comparable IFRS financial measures.&quot;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 4pt; font: 8pt Verdana,sans-serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 2%">(2)</TD>
  <TD STYLE="text-align: justify; width: 98%">Impairment loss provisions as a percentage of the assets subject to impairment.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Verdana,sans-serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 2%">(3)</TD>
  <TD STYLE="text-align: justify; width: 98%">As of December 31, 2024, 2023 and 2022, our total impairment losses on financial instruments included R$2,070 million, R$1,586 million
and R$1,174 million, respectively, related to debt instruments.</TD></TR>
</TABLE>


<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>


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<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Non-Recoverable Assets by Loan Type</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table shows our non-recoverable
assets by loan type as of December 31, 2024, 2023, and 2022.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 46%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Commercial and industrial </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;13.175 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;16.292 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;14.156 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,1)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Real estate </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.736 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.352 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.058 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,8 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Instalment loans to individuals </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;27.284 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;22.239 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;23.999 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,7 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,3)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Lease financing </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.191,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60,0)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;42.242 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;39.887 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;39.224 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,9 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,7 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Commercial and Industrial</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the commercial and
industrial loan portfolio totaled R$13,175 million as of December 31, 2024, a decrease of R$3,117 million, or 19.1%, compared to R$16,292
million as of December 31, 2023. This drop was mainly due to the restructuring of the indebtedness of a large customer in our wholesale
segment.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the commercial and
industrial loan portfolio totaled R$16,292 million as of December 31, 2023, an increase of R$2,136 million, or 15.1%, compared to R$14,156
million as of December 31, 2022. This increase was due to a specific case of a large customer in our wholesale segment that entered into
judicial reorganization proceedings.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Real estate</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the real estate loan
portfolio totaled R$1,736 million as of December 31, 2024, an increase of R$384 million, or 28.4%, compared to R$1,352 million as of December
31, 2023. This increase was mainly due to the growth of this portfolio and challenging macroeconomic conditions.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the real estate loan
portfolio totaled R$1,352 million as of December 31, 2023, an increase of R$294 million, or 27.9% compared to R$1,058 million as of December
31, 2022. The increase in impaired assets in this portfolio was mainly due to the maturity of loans granted before we tightened our credit
approval conditions with effect from January 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Installment loans to individuals</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">Impaired assets
in the loan portfolio with installments to individuals totaled R$27,284 million as of December 31, 2024, an increase of R$5,045 million,
or 22.7%, compared to R$22,239 million as of December 31, 2023. This increase was mainly due to the high growth of this portfolio, changes
in the methodology used to determine whether a loan is in default, and challenging macroeconomic conditions affecting certain products,
such as rural.</FONT></P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">Impaired assets
in the loan portfolio with installments to individuals totaled R$22,239 million as of December 31, 2023, a decrease of R$1,760 million,
or 7.3%, compared to R$23,999 million as of December 31, 2022. The
reduction in impaired assets in the loan book was mainly due to the fact that loans granted after we tightened our credit approval conditions
with effect from January 2022 generally performed better than loans granted before that date.</FONT></P>


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<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Financial Lease</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the leasing finance
loan portfolio totaled R$47 million as of December 31, 2024, an increase of R$43 million compared to R$4 million as of December 31, 2023.
This increase in impaired assets was mainly concentrated in two specific customers.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impaired assets in the leasing financing
loan portfolio totaled R$4 million as of December 31, 2023, a reduction of R$6 million compared to R$10 million as of December 31, 2022.
The reduction in stranded assets in this portfolio was primarily a result of improved quality of the most recent credit origination.</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Impairment Losses on Other Assets (Net)</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impairment losses for other assets (net)
in the year ended December 31, 2024 totaled losses of R$252 million, an increase of R$2 million compared to R$250 million for the year
ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Impairment losses on other assets (net)
for the year ended December 31, 2023 totaled losses of R$250 million, a reduction of R$89 million compared to R$161 million for the year
ended December 31, 2022, mainly due to impairment losses on intangible assets.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Other non-financial gains/losses</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other non-financial gains totaled R$1,912
million during the year ended December 31, 2024, an increase of R$869 million compared to R$1,044 million during the year ended December
31, 2023, mainly due to the closing of the joint venture transaction with Pluxee Group.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Other non-financial gains totaled R$1,044
million during the year ended December 31, 2023, an increase of R$913 million compared to gains of R$131 million during the year ended
December 31, 2022, mainly due to the sale of a 40% stake in Webmotors' share capital.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>Operating Income before Taxation</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Operating income before tax for the year
ended December 31, 2024 was R$19,190 million, an increase of R$7,269 million, or 61.0%, compared to R$11,922 million for the year ended
December 31, 2023. Excluding the effects of hedging for investments held abroad, operating income before taxes totaled R$19,855 million
in the year ended December 31, 2024, an increase of R$8,096 million, or 68.9%, compared to R$11,758 million in the year ended December
31, 2023. Pretax operating income, excluding hedging effects for investments held overseas, is a non-GAAP measure.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The table below shows our pre-tax operating income and our
pre-tax operating profit, excluding the effects of <I>hedging</I> for investments held abroad in the periods presented.</P>

<P STYLE="font: 10pt/115% Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 46%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Operating profit before tax </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;19.190 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;11.922 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;19.575 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61,0 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39,1)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Hedging effects <I>&nbsp;</I>of investments made abroad </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(507,3)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Adjusted operating profit before tax (1) </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;19.855 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;11.759 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;19.446 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68,9 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39,5)</B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 4pt 0.25in; text-align: justify; text-indent: -0.25in">(1) Adjusted operating income
is a non-GAAP measure. For more information, see &quot;Item 3. Key Information &#8212; A. Selected Financial Data &#8212; Reconciliation
of Non-GAAP Measures and Ratios to the Most Directly Comparable IFRS Financial Measures.&quot;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">Income Taxes</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Income tax expenses include income tax,
social contribution, PIS, and COFINS (which are social contributions due on certain net income from some expenses).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Total income tax was R$5,776 million in
the year ended December 31, 2024, an increase of R$3,354 million, or 138.4%, compared to R$2,423 million in the year ended December 31,
2023. This increase in expenses was primarily attributable to: (i) an increase in pre-tax operating income to R$19,190 million in the
year ended December 31, 2024 from R$11,922 million in the year ended December 31, 2023, primarily due to our operating performance throughout
the year. The higher gains resulted in a larger tax base, leading to a commensurate increase in tax expenditures. In addition, the effects
of specific events recognized directly in the tax line remained stable in relation to the previous year, with no additional relevant impacts
on the variation in tax expenditure.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Total income tax was R$2,423 million in
the year ended December 31, 2023, a reduction of 53.7%, or R$2,812 million, compared to the income tax balance of R$5,235 million in the
year ended December 31, 2022. This reduction in expenses was mainly attributable to the following: (i) a reduction of 39.1% or R$7,653
million in pre-tax operating income to R$11,922 million in the year ended December 31, 2023, from R$19,575 million in the year ended December
31, 2022, which was mainly due to an increase in net income provisions of R$3,208 million, or 264.0%, to R$4,424 million in the year ended
December 31, 2023, from R$1,215 million in the year ended December 31, 2022; and (ii) other events that reduced the amount of corporate
taxes, such as the increase in the IOF, which led to an increase of 12.63%, or R$298 million, compared to R$2,362 million in the year
ended December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following table shows our income tax
and income tax excluding the effects of <I>hedging</I> for investments held abroad in the periods indicated.</P>

<P STYLE="font: 1pt/115% Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>



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  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 33%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, except percentages)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Income taxes </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(5.776)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(2.423)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.235)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53,7)</FONT></TD></TR>

<TR>
    <TD STYLE="width: 33%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Hedging effects <I>&nbsp;</I>of investments made abroad </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(665)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(507,3)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 7pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Income tax excluding hedge effects for investments held abroad (*) </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;(6.441)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;(2.260)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;(5.106)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(368,9)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55,7 </B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">* Income taxes, excluding the
effects of <I>hedging</I> investment conducted abroad, is a non-GAAP measure. For more information, see &quot;Item 3. Key Information
&#8212; A. Selected Financial Data &#8212; Reconciliation of Non-GAAP Measures and Ratios to the Most Directly Comparable IFRS Financial
Measures.&quot;</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Results of Operations by Segment for the Years Ended
December 31, 2024, 2023 and 2022</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">The following tables show our operating
results for the years ended December 31, 2024, 2023 and 2022, for each of our operating segments.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt/15pt Verdana,sans-serif; margin: 0 0 0 9.35pt; text-align: justify">Commercial bank</P>

<P STYLE="font: italic bold 10pt/15pt Verdana,sans-serif; margin: 0 0 0 9.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;(in millions of R$, except percentages) </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Net interest income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;51.563 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;44.652 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45.618 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,5 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,1)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Profits from equity instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45,4 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63,6)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Company profits accounted for by the equity method</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,3 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,0 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Net Fee and Commission Profits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;14.944 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;13.270 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.539 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,6 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,8 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Gains/losses on financial assets and liabilities (net) and foreign exchange differences (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.488)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.125)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(360)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32,2 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212,5 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other operating profit (expense)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(596)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(718)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,5)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,0)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Profit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;64.804 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;56.389 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;57.237 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,9 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,5)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Personnel expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;(10.534)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(9.754)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.986)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,0 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,5 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other administrative expenditure</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(7.836)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(7.867)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.571)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0,4)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,9 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Administrative expenditure</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;-18.37 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;(17.621)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;(16.557)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,3 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,4 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(2.599)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(2.621)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.480)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0,8)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,7 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Provisions (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(4.583)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(4.404)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.208)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,0 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264,6 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;(28.451)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;(26.583)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;(23.683)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,0 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,2 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment losses on other assets (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,0 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56,3 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other non-financial gains (losses)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.912 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.044 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83,2 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696,9 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Operating profit before tax</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;12.461 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;5.953 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;13.281 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109,3 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55,2)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B><I>For the year ended December 31,</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;(in millions of R$, except percentages) </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Operating Profit Before Tax</FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.461 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.953 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;13.281 </FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55,2)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55,2)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Effects of <I>hedging</I> investments made abroad </FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129)</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Adjusted operating profit before tax (1)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.125 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.790 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;13.151 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56,0)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56,0)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">2024 and 2023</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Operating income before taxes attributable
to the Commercial Banking segment for the year ended December 31, 2024 was R$12,461 million, an increase of R$6,508 million compared to
R$5,953 million for the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">This variation is mainly due to:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&#8226; increase of R$6.9 billion in net
interest income, representing an increase of 15.5% compared to the year ended December 31, 2023; and</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&#8226; increase of R$ 1.6 billion in
net revenue from fees, representing an increase of 12.6% compared to the year ended December 31, 2023.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Excluding the effects of hedging for investments
held abroad on our revenues, our pretax operating profit would have been R$13,125 billion, an increase of 126.7% compared to the year
ended December 31, 2023. Operating income, excluding hedging effects for overseas investments, is a non-GAAP measure.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">2023 and 2022</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Operating profit before tax attributable
to the Commercial Banking segment for the year ended December 31, 2023 was R$5.9 billion, a reduction of R$7.3 billion from R$13.3 billion
in the year ended December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">This variation is mainly due to:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&#8226; increase of R$3.2 billion in
legal provisions, representing an increase of 264.7% compared to the year ended December 31, 2022;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&#8226; R$2.9 billion increase in impairment
losses on financial assets (net), representing an increase of 12.2% compared to the year ended December 31, 2022, mainly due to the increase
in the loan portfolio driven by the individual customer and consumer finance portfolios; and</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in">&#8226; a decrease in net interest
income driven by our selective credit strategy in the year ended December 31, 2023 compared to the year ended December 31, 2022.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">Excluding the effects of hedging for investments
held abroad on our revenues, our pretax operating profit would have been R$5.8 billion, 56.0% lower than in the fiscal year ended December
31, 2022. Operating income, excluding hedging effects for overseas investments, is a non-GAAP measure.</P>

<P STYLE="font: 12pt/15pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: italic bold 10pt/15pt Verdana,sans-serif; margin: 0 0 0 9.35pt; text-align: justify">Global Wholesale Banking</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>For the year ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 33%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>% Change 2024/2023</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Amendment % 2023/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;(in millions of R$, except percentages) </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Net interest income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.115 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.232 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.885 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129,2 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Profits from equity instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,8 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29,6)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Company profits accounted for by the equity method</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,3)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,8 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Net Fee and Commission Profits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.262 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.370 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.337 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,6)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,4 </FONT></TD></TR>

<TR>
    <TD STYLE="width: 33%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Gains/losses on financial assets and liabilities (net) and foreign exchange differences (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.617 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.920 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.060 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67,1)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,8)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other operating profit (expense)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,8 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,4)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total Profit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;8.953 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;9.476 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.238 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,5)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,6 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Administrative expenditure</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(2.047)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.942)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.683)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 16pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Personnel expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.064)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.060)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(911)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,4 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 16pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Other administrative expenditure</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(983)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(882)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(772)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,4 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,2 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,3 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,2 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Provisions (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37,6)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150,0 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;(1.425)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.146)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97,7)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,3 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Impairment losses on other assets (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&#8212;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100,0)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;N.M.&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Operating profit before tax</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;6.729 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;5.969 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.294 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,7 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,2)</B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 10pt 0.25in; text-align: justify; text-indent: -0.25in">n.m. = not significant.</P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify"><FONT STYLE="font-style: normal">2024
and 2023</FONT></P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">Pretax operating
income attributable to the Global Wholesale Banking segment for the year ended December 31, 2024 was R$6,729 million, an increase of 12.7%,
or R$761 million from R$5,969 million for the year ended December 31, 2023, primarily due to (i) a decrease in impairment losses on financial
assets (net) driven primarily by a specific case of a large customer in our wholesale segment.</FONT></P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify"><FONT STYLE="font-style: normal">2023
and 2022</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Pretax operating income attributable to the Global Wholesale
Banking segment for the year ended December 31, 2023 was R$5,968 million, an increase of 5.2% or R$326 million compared to R$6.3 billion
for the year ended December 31, 2022, which was mainly due to (i) an increase in administrative expenses and (ii) an increase in impairment
losses on financial assets ( driven primarily by a specific case of a large customer in our wholesale segment that entered into bankruptcy
proceedings.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.3. The Officers must comment:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Significant changes in accounting practices that have resulted in
significant effects on the information provided for in fields 2.1 and 2.2.</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&#8226; Amendments to IAS 1 &#8211; Presentation of Financial
Statements:</B> the amendments are intended to specify the requirements for classifying liabilities as current or non-current. The amendments
clarify what is meant by the right to postpone settlement; whereas the right to defer should exist at the end of the financial reporting
period; that the rating is not affected by the likelihood that the entity will exercise its right to defer; and that only a derivative
embedded in a convertible liability is itself an equity instrument, the terms of a liability shall not affect its classification. The
amendments to IAS 1 came into effect as of January 1, 2024 and did not have relevant impacts.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&#8226; Amendment to IAS 1 and IFRS Practice Statement
2 - Disclosure of accounting policies:</B> change of the term &quot;significant accounting policies&quot; to &quot;material accounting
policies&quot;. The amendment also defines what &quot;material accounting policy information&quot; is, explains how to identify it, and
clarifies that immaterial accounting policy information does not need to be disclosed, but if it is, it must not obscure the relevant
accounting information. The IFRS Practice Statement 2 Making Materiality Judgments, also amended, provides guidance on how to apply the
concept of materiality to accounting policy disclosures.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&#8226; Amendment to IAS 7 &#8211; Statement of Cash
Flows and IFRS 7 &#8211; Financial Instruments: Disclosure: requires</B> entities to provide additional disclosures about their supplier
financing arrangements. The IASB issued these new requirements to provide users of financial statements with information that enables
them to assess how supplier financing arrangements affect an entity's obligations and cash flows, and to understand the effect of supplier
financing arrangements on an entity's exposure to liquidity risk and how the entity could be affected if the arrangements were no longer
available to it. The changes to IAS 7 and IFRS 7 were effective as of January 1, 2024 and did not have relevant impacts.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&#8226; <B>Amendment to IFRS 16 &#8211; Leases:</B> clarifies
the requirements that a seller-tenant uses in measuring lease liability arising from a sale and leaseback transaction, in order to ensure
that the seller-tenant does not recognise any amount of gain or loss that relates to the right of use that it holds. The amendments to
IFRS 16 were effective as of January 1, 2024 and did not have material impacts.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>b.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Modified opinions and emphases present in the auditor's report</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In the years ended December 31, 2024, 2023 and 2022, there
were no caveats and emphases present in the auditor's opinion.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.4. The officers must comment on the material effects
that the events below have caused or are expected to cause in the Company's financial statements and results:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Introduction or sale of an operating segment</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">No introduction or sale of the operating segment was carried
out in the last 3 fiscal years.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>b.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">incorporation, acquisition or sale of equity interest</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Banco Santander and other shareholders enter into an Agreement
for the sale of 100% of the equity interest in Galgo Sistema de Informa&ccedil;&otilde;es S.A.</B></FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On March 20, 2025, Banco Santander (Brasil) S.A. and other
shareholders signed certain documents establishing the terms and conditions for the purchase and sale of shares representing the entire
total and voting share capital of Galgo Sistema de Informa&ccedil;&otilde;es S.A. with RTM - Rede de Telecomunica&ccedil;&otilde;es para
o Mercado Ltda. (&#8220;Transaction&#8221;). The completion of the Transaction is subject to the execution of the definitive instruments
and the implementation of certain conditions customary in this type of transaction, including applicable regulatory approvals.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Sale of the entire stake held in Summer
Empreendimentos Ltda.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On February 24, 2025, Santander Holding Imobili&aacute;ria
S.A. (&quot;SHI&quot;) and Banco Santander (Brasil) S.A. signed certain documents establishing the terms of the purchase and sale negotiation
of the quotas representing the entire capital stock of Summer Empreendimentos Ltda. com RFM-E Ltda. (&quot;Transaction&quot;). The completion
of the Transaction is subject to the execution of the definitive instruments and the implementation of certain conditions customary in
this type of transaction, including the applicable regulatory approvals.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Merger of Return Capital S.A. by Return
Capital Gest&atilde;o de Ativos e Participa&ccedil;&otilde;es S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On September 30, 2024, Return Capital S.A. (&quot;Return
Capital&quot;) was fully merged into Return Capital Gest&atilde;o de Ativos e Participa&ccedil;&otilde;es S.A. (new name of Gira, Gest&atilde;o
Integrada de Receivables do Agroneg&oacute;cio S.A.) (&quot;Return Participations&quot;). The merger resulted in an increase in the capital
stock of Return Participa&ccedil;&otilde;es, in the amount of R$ 8,540,942,366.72 (eight billion, five hundred and forty million, nine
hundred and forty-two thousand, three hundred and sixty-six reais and seventy-two cents), through the issuance of 439,224,359 (four hundred
and thirty-nine million, two hundred and twenty-four thousand, three hundred and fifty-nine) new common shares. As a result of the merger,
Return Capital was extinguished, by operation of law, which was succeeded by Return Participa&ccedil;&otilde;es in all its rights and
obligations.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Merger of Mobills Labs Solu&ccedil;&otilde;es
Em Tecnologia Ltda. by Toro Investimentos S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On June 30, 2024, Mobills Labs Solu&ccedil;&otilde;es em
Tecnologia Ltda. (&quot;Mobills Labs&quot;) was fully incorporated and its equity was absorbed by its direct parent, Toro Investimentos
S.A. (&quot;Toro Investimentos&quot;), in accordance with the conditions set forth in the Protocol and Justification of the transaction.
The implementation of the full merger of Mobills Labs did not imply an increase in the capital stock of Toro Investimentos, since all
the shares issued by Mobills Labs were held by Toro Investimentos and, therefore, already reflected in an
investment account by equivalence.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Merger of Ap&ecirc;11 Tecnologia e Neg&oacute;cios
Imobili&aacute;rios S.A. by Santander Holding Imobili&aacute;ria S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On June 28, 2024, Ap&ecirc;11 Tecnologia e Neg&oacute;cios
Imobili&aacute;rios S.A. (&quot;Ap&ecirc;11&quot;) was fully incorporated, with its equity absorbed by its direct parent company, Santander
Holding Imobili&aacute;ria S.A. (&quot;SHI&quot;), in accordance with the conditions established in the Protocol and Justification of
the transaction. The implementation of the full merger of Ap&ecirc;11 did not imply an increase in SHI's share capital, since all the
shares issued by Ap&ecirc;11 were held by SHI and, therefore, were already reflected in its investment account by equivalence.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On December 22, 2023, Santander Holding Imobili&aacute;ria
S.A. (&quot;SHI&quot;), a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into a Share Purchase and Sale Agreement with
the shareholders of Ap&ecirc;11 Tecnologia e Neg&oacute;cios Imobili&aacute;rios S.A. (&quot;Ap&ecirc;11&quot;) to acquire the remaining
10% of the capital stock of Ap&ecirc;11 (&quot;Transaction&quot;). As a result of the Transaction, SHI now holds 100% of Ap&ecirc;11's
share capital.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Joint-Venture between Banco Santander
(Brasil) S.A. and Pluxee International and Pluxee Pay Brasil Ltda.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On June 27, 2024, following the conclusion of the conditions
precedent of the transaction announced on July 24, 2023, Banco Santander (Brasil) S.A. concluded the establishment of a Joint Venture
with Grupo Pluxee (formerly Sodexo).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The economic rationale of the transaction is essentially
based on: (i) the synergies arising from the combination of the businesses of Pluxee Institui&ccedil;&atilde;o de Pagamento Brasil S.A.
(current name of &quot;Ben Benefits and Services Institui&ccedil;&atilde;o de Pagamentos S.A&quot;) with the Pluxee Group in Brazil and
(ii) the company's ability to exploit Santander's customer base to offer its products and services (i.e. the capillarity of Santander's
branch).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">For the formation of the Joint Venture, Banco Santander
contributed the equivalent of R$ 2,044 million attributed: (i) to its investment in its benefits subsidiary, Pluxee Institui&ccedil;&atilde;o
de Pagamento Brasil S.A. (current name of &quot;Ben Benefits and Services Institui&ccedil;&atilde;o de Pagamentos S.A&quot;); (ii) a portion
of cash resources; (iii) the exclusivity contract for the exploitation of its customer base.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">As a result of the transaction, Banco Santander and Grupo
Pluxee now hold 20% and 80% interest, respectively, in the capital stock of Pluxee Benefits Brasil S.A. (&quot;Pluxee&quot;), the investment
vehicle of the Joint Venture.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Merger of Mobills Corretora de Seguros
Ltda. by Toro Asset Management S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On May 31, 2024, Mobills Corretora de Seguros Ltda. (&quot;Mobills
Corretora&quot;) was fully incorporated and its equity was absorbed by its direct parent, Toro Asset Management S.A. (&quot;Toro Asset&quot;),
in accordance with the conditions set forth in the Protocol and Justification of the transaction. The implementation of the full merger
of Mobills Corretora did not imply an increase in Toro Asset's share capital, since all the shares issued by Mobills Corretra were held
by Toro Asset and, therefore, already reflected in an investment account by equivalence.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Acquisition of the remaining portion
of Return Capital Gest&atilde;o de Ativos e Participa&ccedil;&otilde;es S.A. (new name of Gira, Gest&atilde;o Integrada de Receivables
do Agroneg&oacute;cio S.A.) by Return Capital S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On May 17, 2024, Return Capital S.A. (&quot;Return&quot;),
a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into a new name of Gira, Gest&atilde;o Integrada de Receivables do
Agroneg&oacute;cio S.A. with the minority shareholders of Return Capital Gest&atilde;o de Ativos e Participa&ccedil;&otilde;es S.A. (&quot;Gira&quot;),
a certain Share Purchase and Sale Agreement to acquire the 20% of Gira's capital stock held by minority shareholders (&quot;Transaction&quot;).
As a result of the Transaction, Banco Santander (Brasil) S.A. now holds, indirectly, 100% of Gira's share capital.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Acquisition of Interest and Investment
in Am&eacute;rica Gest&atilde;o Servi&ccedil;os em Energia S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On March 12, 2024, Santander Corretora de Seguros, Investimentos
e Servi&ccedil;os S.A. (&quot;Santander Corretora&quot;) formalized, together with the shareholders of Am&eacute;rica Gest&atilde;o Servi&ccedil;os
em Energia S.A. (&quot;Am&eacute;rica Energia&quot;), a Share Purchase and Sale Agreement and Other Covenants with a view to acquiring
70% of the total and voting capital stock of Am&eacute;rica Energia (&quot;Transaction&quot;). The completion of the Transaction was subject
to the fulfillment of certain conditions precedent customary in similar transactions, including obtaining the relevant regulatory clearances.
On July 4, 2024, with the conclusion of the Transaction, Santander Corretora now holds 70% of Am&eacute;rica Energia's shareholding.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Acquisition of Stake and Investment
in Fit Economia de Energia S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On March 6, 2024, Santander Corretora de Seguros, Investimentos
e Servi&ccedil;os S.A. concluded, in compliance with the applicable conditions precedent, the transaction for the acquisition and investment
in Fit Economia de Energia S.A. (&quot;Company&quot;), so that it now holds 65% of the Company's capital stock (&quot;Transaction&quot;).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Acquisition of the entire equity interest
in Toro Participa&ccedil;&otilde;es S.A. and merger by Toro Corretora de T&iacute;tulos e Valores Mobili&aacute;rios S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On January 3, 2024, after the fulfillment of the conditions
precedent, Banco Santander concluded the transaction for the acquisition of all the shares of Toro Participa&ccedil;&otilde;es, so that
it now holds, indirectly, the ownership of 100% of the capital stock of Toro Corretora de T&iacute;tulos e Valores Mobili&aacute;rios
S.A. and Toro Investimentos S.A. On February 29, 2024, the merger of Toro Participa&ccedil;&otilde;es S.A. by Toro Corretora de T&iacute;tulos
e Valores Mobili&aacute;rios S.A. was approved.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Total merger of Mob Solu&ccedil;&otilde;es
em Tecnologia Ltda by Mobills Labs Solu&ccedil;&otilde;es em Tecnologia Ltda.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On October 31, 2023, Mob Solu&ccedil;&otilde;es em Tecnologia
Ltda. (&quot;Mob&quot;) was fully incorporated and its equity was absorbed by its direct parent, Mobills Labs Solu&ccedil;&otilde;es em
Tecnologia Ltda. (&quot;Mobills&quot;), in accordance with the conditions set forth in the Protocol and Justification of the transaction.
The implementation of the full merger of Mob did not imply an increase in Mobills' share capital, since all of Mob's issued quotas were
held by Mobills and, therefore, already reflected in an investment account by equivalence.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Sale of the entire stake held in Banco
PSA Finance Brasil S.A. and Stellantis Corretora de Seguros e Servi&ccedil;os Ltda.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">On August 31, 2023, Aymor&eacute; Cr&eacute;dito,
Financiamento e Investimento S.A. (&quot;Aymor&eacute;&quot;) and Santander Corretora de Seguros, Investimentos e Servi&ccedil;os
S.A. (&quot;Santander Corretora de Seguros&quot;) concluded the sale of equity interests held by Aymor&eacute;, representing fifty
percent (50%) of the capital stock of Banco PSA Finance Brasil S.A. (&quot;Banco PSA&quot;), to Stellantis Financial Service, S.A.
and (b) Santander Corretora de Seguros, representing fifty percent (50%) of the capital
stock of Stellantis Corretora de Seguros e Servi&ccedil;os Ltda. (&quot;Stellantis Corretora&quot;), to Stellantis Services Ltd. (&quot;Transaction&quot;).</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">With the conclusion of the Transaction, Aymor&eacute; no
longer holds an equity interest in Banco PSA and Santander Corretora de Seguros no longer holds an equity interest in Stellantis Corretora.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/14pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Sale of part of Santander Corretora's
equity interest in Webmotors S.A. to Carsales.com Investments PTY LTD.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">On April 28, 2023, Santander Corretora
de Seguros, Investimentos e Servi&ccedil;os S.A. (&quot;Santander Corretora&quot;) concluded the sale of shares representing 40% of the
capital stock of Webmotors S.A. (&quot;Webmotors&quot;) to Carsales.com Investments PTY LTD (&quot;Carsales&quot;) (&quot;Transaction&quot;).
With the conclusion of the Transaction, Santander Corretora became the holder of 30% and Carsales of 70% of the capital stock of Webmotors.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>c.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Unusual events or operations</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in">Nothing to report.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.5. Inform the value of non-accounting measurements</B></P>

<P STYLE="font: 12pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>the. Inform the value of non-accounting measurements</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><I>(in millions of R$, unless otherwise indicated)</I></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>In the fiscal year ended on</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 45%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9E2F3">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Efficiency Ratio disregarding the effects of hedging investments abroad </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,7%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>29,7%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,4%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>28,2%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,8%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. make reconciliations between the amounts disclosed and
the amounts of the audited financial statements</B></P>

<P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><I>(in millions of R$, unless otherwise indicated)</I></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>From and to the year ended on</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 45%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 11%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>(in millions of R$, unless otherwise indicated)</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Efficiency Index</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Administrative expenditure </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;20.417 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;19.563 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;18.240 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;17.316 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;17.115 </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Total Profit </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;73.757 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;65.864 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;66.475 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;63.926 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;48.242 </FONT></TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">of which:</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Gains (losses) on financial assets and liabilities (net) and foreign exchange differences (net) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.795 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.781)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;(11.703)</FONT></TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Efficiency Index</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,7%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>29,7%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,4%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,1%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>35,5%</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Total Profit </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;73.757 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;65.864 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;66.475 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;63.926 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;48.242 </FONT></TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Hedging effects&nbsp;&nbsp;of investments made abroad </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;2.512&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;13.583&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Total income excluding the effects of <I>hedging</I> investments held abroad </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;74.422 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;65.701 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;66.346 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;66.438 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;61.825 </FONT></TD></TR>
  <TR STYLE="background-color: #DEEBF7">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Administrative expenditure </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;20.417 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;19.563 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;18.240 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;17.316 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;17.115 </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Hedging Efficiency Ratio Adjusted for <I>&nbsp;</I>Investments Held Abroad </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,4%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>29,8%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,5%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>26,1%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>27,8%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. explain why you believe that such measurement is more appropriate
for the correct understanding of your financial condition and the result of your operations</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Efficiency Ratio, disregarding the
effects of hedging investments abroad, aims to adequately transmit the company's performance.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.6. Events subsequent to the FDs:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Subsequent Events</B></P>

<P STYLE="font: 10pt/15pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Interest on Equity Resolution</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">Banco Santander's Board of Directors, at a meeting held on January
10, 2025, approved the proposal of the Company's Executive Board, ad referendum of the Ordinary General Meeting, for the distribution
of Interest on Equity, in the amount of R$ 1,500,000,000.00 (one billion and five hundred million reais), based on the balance of the
Company's Dividend Equalization Reserve. Shareholders who are registered in the Bank's records at the end of January 22, 2025 (inclusive)
will be entitled to Interest on Equity. Thus, as of January 23, 2025 (inclusive), the Bank's shares will be traded &quot;Ex-Interest on
Equity&quot;. The amount of Interest on Equity was paid on February 12, 2025. Interest on Equity will be fully imputed to the minimum
mandatory dividends to be distributed by the Bank, referring to the 2025 fiscal year, without any remuneration as monetary adjustment.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.7. Allocation of results</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.85pt 0 0; text-align: justify">As established in the Company's Bylaws, the net
income calculated, after deductions and legal provisions, will be allocated as follows:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.85pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 6.3pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>I</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">- 5% (five percent) for the constitution of the legal reserve,
until it reaches 20% (twenty percent) of the capital stock;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.85pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>II</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">- 25% (twenty-five percent) of the net income, adjusted pursuant
to article 202 of Law No. 6,404/76, shall be mandatorily distributed as a mandatory dividend to all shareholders; and</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>III</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">- the balance, if any, may, upon proposal of the Executive Board
and approved by the Board of Directors: <B>(a) </B>be allocated to the formation of a Reserve for Equalization of Dividends, which will
be limited to fifty percent (50%) of the value of the capital stock and will have the purpose of guaranteeing resources for the payment
of dividends, including in the form of interest on equity, or its anticipations, in order to maintain the flow of remuneration to shareholders,
and, once this limit is reached, it will be up to the Shareholders' Meeting to resolve on the balance, proceeding with its distribution
to shareholders or increasing the capital stock; and/or <B>(b) </B>be retained, in order to meet the capital investment needs stipulated
in the Company's General Budget, submitted by the management to the approval of the Shareholders' Meeting and reviewed annually by the
Shareholders' Meeting, when it lasts more than one fiscal year.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6pt 0 0; text-align: justify">Profits not earmarked under the above terms shall
be distributed as dividends.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">a.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Rules on Retention of Profits</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.7pt 0 0; text-align: justify">Pursuant to the corporate law, including Law 6,404,
of December 15, 1976, as amended (&quot;<U>Brazilian Corporation Law</U>&quot;), and the Company's Bylaws, the net income for the year
may be retained in order to meet the capital application needs stipulated in the Company's general budget, as submitted by management
for approval at the shareholders' meeting and reviewed annually, if applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.7pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6.05pt 0 0; text-align: justify">There was no retention of profits in the last
three fiscal years, and the Company paid dividends higher than the mandatory dividend.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 12pt/14pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Rules on dividend distribution</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.85pt 0 0; text-align: justify">The Company's Bylaws provide that an amount of
not less than 25% of net income, less allocations to legal and contingency reserves, shall be available for distribution in the form of
dividends or interest on equity in any fiscal year. This amount represents the mandatory dividends. The calculation of net income and
allocations to reserves, as well as the amounts available for distribution, are made based on the Company's individual financial statements
prepared in accordance with the accounting practices adopted in Brazil and rules issued by the National Monetary Council (&quot;<U>CMN</U>&quot;)
and the Central Bank of Brazil (&quot;<U>Central Bank</U>&quot;), applicable to financial institutions authorized to operate by the Central
Bank (&quot;<U>BRGAAP&quot;)</U>&quot;).</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.7pt 0 0; text-align: justify">The Company's Board of Directors may declare interim
dividends or interest on equity based on the profits calculated in the Company's consolidated half-yearly financial statements. In addition,
the Board of Directors may declare dividends or interest on equity based on consolidated financial
statements for shorter periods, provided that the total dividends paid in each semester do not exceed the value of the capital reserves
provided for under the terms of the corporate law. The Board of Directors may also declare interim dividends or interest on equity based
on the retained earnings or profit reserves existing in the Company's last annual or half-yearly balance sheet.</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6.2pt 0 0; text-align: justify">Any payment of interim dividends or interest on
equity by the Company may be offset against the amount of mandatory dividends related to the net income calculated in the fiscal year
in which they are paid.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.75pt 0 0; text-align: justify">The amount distributed to shareholders as interest
on equity, net of any withholding tax, may be included as part of the minimum mandatory dividends. In accordance with the applicable legislation,
the Company is required to pay shareholders an amount sufficient to ensure that the net amount received as interest on equity, less the
payment of applicable withholding income tax, plus the amount of the dividends declared, is equivalent to at least the amount of the mandatory
dividend.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 5.75pt 0 0; text-align: justify">The corporate law allows, however, the Company's
shareholders to suspend the distribution of dividends if the Company's Board of Directors informs the general meeting of shareholders
that the distribution is incompatible considering the Company's financial situation. The Company's fiscal council, if in operation, must
analyze any suspension of payment of the mandatory dividend. In addition, management must submit a report to the Brazilian Securities
and Exchange Commission (&quot;<U>CVM</U>&quot;) justifying the reasons for the suspension. The net income not distributed due to the
suspension will be allocated to a separate reserve and, if not absorbed by subsequent losses, should be distributed as dividends as soon
as the Company's financial situation allows such payment.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>C. Periodicity of dividend distributions</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6.15pt 0 0; text-align: justify">The distribution of dividends and/or interest
on equity is annual (at the annual shareholders' meeting), based on the results of the fiscal year, and the Board of Directors may also
declare dividends to the profit account calculated in the semiannual, quarterly, bimonthly or monthly balance sheet or even declare interim
dividends to the retained earnings account or profit reserves existing in the Company's last annual or semiannual balance sheet.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">In 2022, the Company approved the payment of
interest on equity and/or dividends in February, April, August and October of that year:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,700 million, declared on
February 1, 2022;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interim Dividends in the amount of R$700 million, declared on April
14, 2022;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,000 million, declared on
April 14, 2022;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,700 million, declared on
August 05, 2022;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interim Dividends in the amount of R$820 million, declared on October
13, 2022;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 6pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$880 million, declared on October
13, 2022;</FONT></P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">In 2023, the Company approved the payment of
interest on equity and/or dividends in January, April, July and October of that year:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,700 million, declared on
January 19, 2023;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,500 million, declared on
April 13, 2023;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,500 million, declared on
July 13, 2023;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interim Dividends in the amount of R$380 million, declared on October
10, 2023;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 6pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,120 million, declared on
October 10, 2023;</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">In 2024, the Company approved the payment of
interest on equity and/or dividends in January, April, July and October of that year:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,500 million, declared on
January 11, 2024;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,500 million, declared on
April 10, 2024;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,500 million, declared on
July 10, 2024;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 5.9pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interim Dividends in the amount of R$ 200 million, declared on October
10, 2024;</FONT></P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 6pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on equity in the amount of R$1,300 million, declared on
October 10, 2024;</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 6pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 12pt/14pt Times New Roman,serif; margin: 0 6.1pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">d.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Any restrictions on the distribution of dividends imposed by legislation
or special regulations applicable to the issuer, as well as contracts, judicial, administrative or arbitration decisions</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 4.15pt 0 0; text-align: justify">The Company observed the limitation on the distribution
of results determined by CMN Resolution No. 4,885, of December 23, 2020, which establishes, for a fixed period, prohibitions on the remuneration
of equity, the increase in the remuneration of managers, the repurchase of shares and the reduction of capital stock, to be observed by
financial institutions and other institutions authorized to operate by the Central Bank of Brazil, considering the potential effects of
the coronavirus pandemic (Covid-19) on the National Financial System.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 12pt/14pt Times New Roman,serif; margin: 0 6.1pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">e.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">If the issuer has a formally approved policy for the allocation
of results, inform the body responsible for approval, date of approval and, if the issuer discloses the policy, places on the world wide
web where the document can be consulted</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The Company has a dividend distribution policy, approved
by the Board of Directors on September 18, 2009, which recommends to its shareholders the distribution of 50.0% of the annual adjusted
net income as dividends and/or interest on equity. The future dividend policy and the amount of future dividends and/or interest on equity
that the Company decides to recommend to shareholders for approval will depend on a number of factors, including, without limitation, the
Company's cash flow, financial condition (including capital position), investment plans, prospects, legal requirements, economic environment
and other factors that we deem relevant at the time.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="background-color: fuchsia"><BR STYLE="clear: both">
</FONT></P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.8. The Officers must describe the material items not
disclosed in the issuer's financial statements, indicating:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Officers must describe the material items not disclosed
in the issuer's financial statements, indicating:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. the assets and liabilities held by the issuer, directly
or indirectly, that do not appear on its balance sheet, such as:</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/14pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>written off receivables portfolios on
which the entity has not substantially retained or transferred the risks and rewards of ownership of the transferred asset, indicating
their liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable, given that there are
no assets of this nature off the balance sheet.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/14pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>ii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>contracts for the future purchase and
sale of products or services</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable, given that there are
no assets of this nature off the balance sheet.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>iii.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Unfinished Construction Contracts</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable, given that there are
no assets of this nature off the balance sheet.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0 0 0 64.35pt; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>iv.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">contracts for future financing receipts</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable, given that there are
no assets of this nature off the balance sheet.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. Other items not disclosed in the financial statements</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">We offer a series of guarantees so that our customers improve
their credit position and allow them to be able to compete. As required, the &quot;Maximum potential value of future payments&quot; represents
the notional amounts that could be lost if there were total default by the guaranted parties, without considering possible recoveries
of guarantees maintained or provided, or recoveries on appeal.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There is no relationship between these amounts and the probable
losses on these guarantees.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In fact, the &quot;Maximum potential value of future payments&quot;
significantly exceeds the inherent losses.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The table below shows all the guarantees as of December
31, 2024, 2023 and 2022.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>In thousands of Reais</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Maximum potential value of future payments</B></FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Contingent liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Guarantees and other guarantees</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;60.657.334&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;62.579.329&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;54.497.392&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 12pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Financial guarantees </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;33.246.872&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;44.891.226&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;41.456.445&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 12pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Performance guarantees</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.903.656&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.994.311&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.167.016&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 12pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Financial Letters of Credit </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;25.485.782&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;15.667.096&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;10.841.284&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 12pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;21.024&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;26.696&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;32.647&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Other contingent exposures</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3.730.419&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3.091.932&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.881.565&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 12pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Documentation credits </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3.730.419&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3.091.932&#9;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.881.565&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Total contingent liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;64.387.753&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;65.671.261&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;57.378.957&#9;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The investment funds that are under our management and that
are not recorded on our balance sheet are detailed in the table below:</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>In thousands of Reais</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Funds under management</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;134.133&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;11.871.919&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;18.934.221&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;134.133&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;11.871.919&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;18.934.221&#9;</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Finally, we hold in our custody third-party debt securities
and securities in the total amount of R$51,197 million in 2024, R$80,175 million in 2023 AND R$48,918 million in 2022.</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>2.9. In relation to each of the items not disclosed in the financial
statements indicated in item 2.8., the officers shall comment:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. how such items alter or may change the revenues, expenses,
operating results, financial expenses or other items of the Company's financial statements</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There are no additional effects to be evidenced, other than
those presented in Section 2.8 of this document.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>B. Nature and purpose of the transaction</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There are no additional effects to be evidenced, other than
those presented in Section 2.8 of this document.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. nature and amount of the obligations assumed and the
rights generated in favor of the Company as a result of the transaction</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There are no additional effects to be evidenced, other than
those presented in Section 2.8 of this document.</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.10. The officers must indicate and comment on the main
elements of the Company's business plan, specifically exploring the following topics: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. investments, including: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>I. Quantitative and qualitative description
of ongoing and planned investments</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Our main capital expenditures are comprised of investments
in information technology. Our information technology platform focuses on its customers and supports our business model. In the fiscal
years 2024, 2023 and 2022, total investments in information technology were R$1,832 million, R$2,259 million and R$1,885 million, respectively.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt; color: red">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In 2024, 2023 and 2022, we continued to improve our technology
platforms by investing in our digital applications, especially through the implementation of new solutions in the areas of artificial
intelligence (e.g. machine learning, and AI for operations, or AIOPs), microservices, blockchain technology, cybersecurity measures, facial
recognition and cloud-based technologies, among others. We believe that the application of these new technologies has improved our interaction
with our customers and allowed us to offer credit, consortium, payroll loan, insurance, <I>private banking</I>, cards, payments, agribusiness
and investment solutions to better meet the needs of our customers. We also continue to invest in our physical distribution network (branches,
PABs and PAEs), including biometric identification for corporate customers, digital purchase and exchange payment, among other initiatives.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>II. Sources of financing for investments</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The sources of financing for the investments mentioned above
are mainly the cash flow from operating activities. Ongoing investments consist primarily of investments in technology.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. provided that it has already been disclosed, indicate
the acquisition of plants, equipment, patents, or other assets that should materially influence the Company's production capacity.</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Please refer to the information available in item 2.4 -
b, above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. new products and services, indicating: </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>I. Description of ongoing research already
published</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>ii. total amounts spent by the Company on
research for the development of new products or services</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>iii. Projects in development already disclosed</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Not applicable.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>iv. total amounts spent by the Company on
the development of new products or services </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">Not applicable, as the amounts spent on the
development of new products or services are considered in item 2.10.a (i) above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>d. opportunities included in the Company's business plan
related to ESG issues</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">Our sustainability story began more than 20
years ago. Throughout this period, we have improved our sustainability-related programs, business, and governance.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">The main focus throughout this time has been
the assessment and mitigation of social, environmental and climate risks in the granting of loans, assistance to businesses that support
the transition of customers to a low-carbon economy and the construction of a more inclusive society through education, employability
and entrepreneurship actions, as well as financial and social inclusion. Many of these initiatives are accompanied by global targets in
areas where we have the greatest potential impact, such as net-zero emissions in our operations, financial inclusion, and diversity. To
ensure proper governance of this process, we have internal policies and controls supported by our senior leadership.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">Our sustainability efforts are carried out in
accordance with our Social, Environmental, and Climate Responsibility Policy, or &quot;PRSAC,&quot; which outlines social, environmental,
and climate principles and guidelines for conducting business and engaging with the organization's stakeholders. The PRSAC aims to prevent
negative impacts and maximize the positive impacts arising from our operations and financial activities. The PRSAC meets the requirements
of CMN Resolution No. 4,945.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">We have expanded our offerings of internal training
courses on sustainability topics to some of our affiliates. We monitor specific sustainability goals, which are used to evaluate the performance
of executives and other employees and directly impact their variable compensation.<BR>
<BR>
</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">We have supported the Brazilian government's
initiatives for the transition to a low-carbon economy, not only through our advocacy actions, but also through active and direct participation.
One example is the recently announced &quot;Ecoinvest Program&quot;: an auction organized by Brazil's National Treasury with the aim of
attracting foreign capital to finance low-carbon economy transition projects through a blended financing facility. We participated in
the auction and recently received feedback that our bid was
successful. We are now in the internal structuring phase to raise international funds for financing.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">Our commitment to the NZBA requires the establishment
of decarbonization plans for the most carbon-intensive sectors. The first step in this process is to measure the emissions of our portfolio.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><BR>
Given the importance of agricultural production in Brazil, we focus our efforts on this sector. To start this journey, in 2022 we sought
the specialized support of WayCarbon, a Brazilian company recognized for solutions aimed at decarbonizing the economy. Since then, we
have been working together on developing methodologies and metrics with scientific references, which we believe will allow us to estimate
the sector's emissions and understand the production linkages with the potential for decarbonization.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">We also participate in the Banking for Impact
on Climate in Agriculture (B4ICA) initiative, coordinated by the World Business Council for Sustainable Development in partnership with
the United Nations Environment Programme Finance Initiative (UNEP FI), the Partnership for Carbon Accounting Financials (PCAF) and the
Environmental Defense Fund (EDF), along with other banks. We have been reporting our emissions since 2009 and have compensated for emissions
from our own operations (scope 1 and 2) that we have not been able to reduce. Regarding scope 3 emissions, our current focus is on reducing
them. We have publicly disclosed our scope 2 goal of reaching 100% renewable energy by 2025, a goal we achieved in 2023. We have published
our Emissions Inventory in the Brazilian Public Emissions Registry, a platform for monitoring greenhouse gas emissions, or &quot;GHG&quot;,
of the organizations participating in the Brazilian GHG Protocol Program.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">Regarding sustainability frameworks, we continue
to follow the guidance of the Global Reporting Initiative, the Task Force on Climate-related Financial Disclosures, and the principles
of integrated reporting. We also connect our activities to the UN Sustainable Development Goals. Since 2023, we have started to consider
the impact of IFRS S1 and S2 standards, launched by the International Sustainability Standards Board, which will become mandatory for
publicly-held companies in Brazil as of January 1, 2026, according to CMN Resolution No. 5,185/2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><BR>
Our key achievements in 2024 include the following:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We enabled R$32.2 billion in sustainable
business (including balance sheet financing and debt issuances or other financing we facilitate), including green bond issuances, clean
energy financing, and dedicated product options.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We maintained our market leadership in
decarbonization credits, or CBIOs, with a 41% share of CBIOs in Brazil in the year ended December 31, 2024, according to data from B3.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In order to support our customers in the
transition to a low-carbon economy, we held the event &quot;Connections for Net Zero Agribusiness&quot; in partnership with WayCarbon
to discuss challenges and solutions for the decarbonization of the Brazilian agribusiness supply chain. We also announced an initiative
for Brazilian agricultural producers to invest in decarbonization tools. This initiative, developed in collaboration with the Agro Carbon
Alliance Brazil, aims to foster a more productive and resilient agriculture.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 64.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In addition, we organized the event &quot;SMEs
and the low-carbon future&quot;, engaging our customers and discussing how data, key performance indicators and sustainability lead to
better management and positive economic impact, along with the role of innovation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To reinforce our commitments to climate
issues, we have joined the B20 Brazil Task Forces on energy transition, digital transformation, finance and infrastructure, employment
and education.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We have established an important partnership
with an automaker to provide app-based drivers with more favorable financing terms.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We have developed and approved a dedicated
risk framework to support the evaluation and approval of transactions in technology and emerging climate and nature segments by our senior
credit risk committee. These transactions rarely fit into existing risk frameworks due to their novel nature and therefore require a dedicated
review process.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We issued our first &quot;social bond&quot;
in the international market, raising R$ 1.3 billion, intended to finance small and medium-sized companies in the North and Northeast regions
of Brazil, as well as to support our microcredit program.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Prospera Microfinance achieved a portfolio
of R$ 3.3 billion (an increase of 10% compared to December 31, 2023), serving 1.15 million customers and approximately 1,700 communities
in Brazil. We launched the &quot;Educate to Prosper&quot; project, which trained approximately 8,595 Prospera Microfinance supervisors
to conduct financial education initiatives, reaching 228,686 people throughout Brazil.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Over the past 25 years, we have invested
in education through Santander Universities, awarding approximately 205,856 scholarships in 2024. We continue to promote access to education
through the repositioning of the Open Academy platform to assist in the development of professional skills and boost the employability
of the community, benefiting more than 207,634 people in 2024.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We launched the Humanitarian Aid Fund,
with the aim of supporting populations affected by crisis situations. Through campaigns, we mobilized R$ 7.5 million, in addition to the
collection of clothes and blankets. In 2024, the funds were used to support employees and communities affected by the floods in Rio Grande
do Sul. The funds were allocated to the purchase of emergency items, such as water, food and mattresses. Actions for the reconstruction
of houses and public schools were also supported.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The pillars of our volunteer program are
financial education, professional development, and safeguarding the rights of children, adolescents, and the elderly. We offer financial
education for teens and adults and mentorship for youth, as well as organizing a winter clothing drive, among other volunteering initiatives.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The Amigo de Valor program, dedicated to
safeguarding the rights of children and adolescents in vulnerable situations, has reached its 22nd edition. In a joint action between
Santander Brasil, employees and customers, we enable individuals and companies to allocate part of their income tax to municipal funds.
We achieved a mobilization of R$ 25.2 million, 42% of which came from Santander Brasil itself, 29% from employees and 29% from customers.
This amount will support about 9,342 children and adolescents and their families in 64 municipalities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We also have a program that uses a similar
social technology: the Senior Partner. The initiative is based on the statute of the elderly, which aims to protect the rights of vulnerable
older people. Last year, the action raised almost R$ 18.5 million to carry out 47 projects in 19 Brazilian states throughout 2024, benefiting
approximately 6,271 elderly people and their families.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We have published our financial education
policy. Through the provision of tools, communication processes in the customer journey and in the product journey, lectures and courses,
more than 228,686 people were impacted by some financial education action. Our financial education portal features content, guides, and
worksheets to support financial health. We also carry out volunteer actions aimed at the community and several lectures.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">We also have a diverse and independent
board of directors, with 45% of members being women and 55% of members being independent as of December 31, 2024.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify"><BR>
In recognition of our environmental, social and governance efforts, we have been awarded &quot;Best International Bank&quot; and &quot;Best
Bank for ESG&quot; by Euromoney magazine. We also received the &quot;Best of ESG&quot; award from Exame magazine and are part of the ISE
(Corporate Sustainability Index) portfolio and the Idiversa indices of B3, the main stock exchange in Brazil. We also received an A-rating
from CDP, the largest database on corporate practices related to climate change, emissions, water and forests.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>2.11. Comment on other factors that have materially influenced
the operating performance and that have not been identified or commented on in the other items of this section</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The balance of amounts spent on other
administrative expenses for 2024 was R$8,819 million, of which R$2,414 million are attributed to technical services and R$2,410 million
are attributed to expenses with system maintenance.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The breakdown of the balance of other
administrative expenses for the years 2024, 2023 and 2022 is described in the table below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; border-top: #EE2724 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Real estate, facilities and materials</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;878.393&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;896.232&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;895.734&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Technology and systems</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.409.697&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.383.988&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.577.479&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Advertising</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;516.448&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;521.964&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;540.593&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Communications</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;351.019&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;501.765&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;421.522&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Allowances and travel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;201.195&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;163.057&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;72.647&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Taxes except income tax</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;154.047&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;173.147&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;148.950&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Surveillance and transportation services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;474.477&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;524.680&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;548.759&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Insurance premiums</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;25.311&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;26.783&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;21.977&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Specialized technical services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.413.970&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.397.149&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.228.715&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 6pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Technical Reports</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;409.138&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;512.257&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;425.767&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 6pt; text-align: left; font-family: Times New Roman,serif; line-height: 8pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Other technical and specialized services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2.004.832&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.884.892&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.802.948&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Other administrative expenses (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.393.951&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1.159.950&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;886.742&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;8.818.508&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;8.748.715&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;8.343.118&#9;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 7pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt">(1) As of December 31, 2024, it is mainly composed of Expenses with business formalization expenses of R$1,001,084 (2023 &#8211; R$949,009 and 2022 - R$926,119), Data Processing Expenses in the balance of R$263,719 (2023 &#8211; R157,010 and 2022 - R$155,326), Service Expenses in the balance of R$250,192 (2023 - 152,065 and 2022 - revenue of R$52,165),&nbsp;&nbsp;and Recovery of Charges and Expenses R$558,296 (2023 &#8211; R$304,025 and 2022 &#8211; R$435,717).</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">There is no other information pertinent
to this topic that we deem relevant that is not described in the other items in this Section 2.</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT III</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">MANAGEMENT PROPOSAL FOR ALLOCATION OF NET
PROFIT FOR THE FISCAL YEAR (Pursuant to item II of the sole paragraph of article 10, Annex A of CVM Resolution 81/22)</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>1. Inform the net profit for the fiscal year</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Net income for the year 2024 was R$ 13,035,452 thousand
according to individual financial statements.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>2. </B></FONT><B>Inform
the overall amount and the value per share of dividends, including anticipated dividends and interest on equity that has already been
declared</B></P>

<P STYLE="font: 12pt/14pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">For the 2024 fiscal year, the Board of Directors approved
the payment of interest on equity to our shareholders, in the amount of R$ 5,800 million, and dividends, in the amount of R$ 200 million,
<I>ad referendum</I> of the ordinary general meeting. These amounts were deliberated on January 11, 2024, April 10, 2024, July 10, 2024,
October 10, 2024, as shown in the table below in summary:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Fiscal Year 2024</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Highlight Date</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Gross Amount (in R$ thousands)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Value per gross share (in R$)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Value per share Net (in R$)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Payment Date</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">11/01/24</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1.500.000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,19183601029</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,21101961131</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,40285562160</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,16306060874</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,17936666962</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,34242727836</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">08/02/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">10/04/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1.500.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,19161861696</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,21078047866</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,40239909562</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,16287582442</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,17916340686</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,34203923128</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">15/05/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">10/07/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1.500.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,19166652800</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,21083318082</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,40249970882</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,1629165488</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,17920820369</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,34212475249</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">09/08/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">10/10/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">200.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,02555404556</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,02810945011</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,05366349566</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,02555404556</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,02810945011</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,05366349566</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">08/11/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">10/10/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1.300.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,16610129610</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,18271142572</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,34881272182</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,14118610169</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,15530471186</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,29649081355</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">08/11/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">6.000.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,766776497</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,843454147</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1,610230644</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,655593129</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">0,721152442</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt; line-height: 106%">1,376745571</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>3. </B></FONT><B>Inform
the net profit percent for the distributed fiscal year</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In fiscal year 2024, <FONT STYLE="color: windowtext">48.45%</FONT>
of the Company's net income was distributed, after being allocated to the legal reserve, according to the individual financial statement,
prepared in accordance with the Accounting Practices Adopted in Brazil, configured by the Brazilian Corporation Law, associated with the
rules of the CMN, the Central Bank and the CVM, as shown below.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 6pt 0 4pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; width: 53%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>Description</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Net Income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>13.035.452</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>8.864.227</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>12.358.521</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">(-) Legal Reserve</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">443.211</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">443.211</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">617.926</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>(=) Adjusted Net Income for Dividend Purposes (i)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>12.383.679</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>8.421.016</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>11.740.595</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Minimum Mandatory Dividend (25%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.095.919</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.105.254</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.935.149</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Interest on Equity (JCP)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.800.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.820.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.280.000</FONT></TD></TR>

<TR>
    <TD STYLE="white-space: nowrap; width: 53%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Early Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">200.000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">380.000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">1.520.000</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Total (JCP + Dividends) (ii)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.000.000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.200.000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.800.000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Dividend Higher than the Minimum Required</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.904.080</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>4.094.746</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.864.851</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>% of Distributed Profit (ii) / (i)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>48,45%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>69,94%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>57,92%</B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>4. </B></FONT><B>Inform
the overall amount and the value per share of dividends distributed on the basis of profit from previous fiscal years<FONT STYLE="color: windowtext">.</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In 2024, no dividends were paid based on profit from previous
years.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>5. </B></FONT><B>Inform,
minus anticipated dividends and interest on net equity that has already been declared<FONT STYLE="color: windowtext">:</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>the
gross dividend value and interest on net equity, in segregated form, by the action of each kind and class</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In 2024, interest on equity in the amount of R$5,800 million
and dividends in the amount of R$200 million were declared in advance, as mentioned in item 2 above. After deducting these amounts, there
was no other declaration of dividends and/or interest on equity related to net income for the year 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>the
form and the deadline for payment of dividends and interest on net equity</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>c. </B></FONT><B>possible
incidence of update and interest on the dividends and interest on net equity</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>d. </B></FONT><B>declaration
date for dividend payment and interest on net equity considered for identification of shareholders who are entitled to the receipt thereof</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>6. </B></FONT><B>In case
of declaration of dividends or interest on net equity on the basis of profits recorded in half-yearly balance sheets or in shorter periods</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>informs
the amount of dividends or interest on net equity that has already been declared</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. inform the date of the respective payments</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">For the 2024 fiscal year, the Company, through its Board
of Directors, approved <I>ad referendum </I>of the annual general meeting of shareholders to be held by April 30, 2025, the proposal of
the Executive Board, regarding the declaration of the following dividends:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on Equity, pursuant to articles 17, item XVIII and 37,
paragraph 2 of the Company's Bylaws, in the gross amount of R$ 1,500,000,000.00 (one billion and five hundred million reais), equivalent
to R$ 0.19183601029 per common share, R$ 0.21101961131 per preferred share and R$ 0.40285562160 per Unit, which after deducting the amount
related to Withholding Income Tax (&quot;IRRF&quot;), pursuant to the legislation in force, the net amount of R$ 1,275,000,000.00 (one
billion, two hundred and seventy-five million reais), equivalent to R$ 0.16306060874 per common share, R$ 0.17936666962 per preferred
share and R$ 0.34242727836 per Unit, with the exception of immune and/or exempt shareholders.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholders who were registered in the Company's records
at the end of January 19, 2024 were entitled to the aforementioned Interest on Equity approved at the meeting held on January 11, 2024.
Thus, as of January 22, 2024 (inclusive), Santander Brasil's shares began to be traded &quot;ex-Interest on Equity&quot;. Interest on
Equity was paid on February 08, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on Equity, pursuant to articles 17, item XVIII and 37,
paragraph 2 of the Company's Bylaws, in the gross amount of R$ 1,500,000,000.00 (one billion and five hundred million reais), equivalent
to R$ 0.19161861696 per common share, R$ 0.21078047866 per preferred share and R$ 0.40239909562 per Unit, which after deducting the amount
related to Withholding Income Tax (&quot;IRRF&quot;), under the terms of the legislation in force, the net amount of R$ 1,275,000,000.00
(one billion, two hundred and seventy-five million reais), equivalent to R$ 0.16287582442 per common share, R$ 0.17916340686 per preferred
share and R$ 0.34203923128 per Unit, with the exception of immune and/or exempt shareholders.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholders who were registered in the Company's records
at the end of April 19, 2024 were entitled to the aforementioned Interest on Equity approved at the meeting held on April 10, 2024. Thus,
as of April 22, 2024 (inclusive), Santander Brasil's shares began to be traded &quot;ex-Interest on Equity&quot;. Interest on Equity was
paid on May 15, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on Equity, pursuant to articles 17, item XVIII and 37,
paragraph 2 of the Company's Bylaws, in the gross amount of R$1,500,000,000.00 (one billion and five hundred million reais), equivalent
to R$0.19166652800 per common share, R$0.21083318082 per preferred share and R$0.40249970882 per Unit, which after deducting the amount
related to Withholding Income Tax (&quot;IRRF&quot;), pursuant to the legislation in force, the net amount of R$ 1,275,000,000.00 (one
billion, two hundred and seventy-five million reais), equivalent to R$ 0.1629165488 per common share, R$ 0.17920820369 per preferred share
and R$ 0.34212475249 per Unit, with the exception of immune and/or exempt shareholders.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholders who were registered in the Company's records
at the end of July 19, 2024 were entitled to the aforementioned Interest on Equity approved at the meeting held on July 10, 2024. Thus,
as of July 22, 2024 (inclusive), Santander Brasil's shares started to be traded &quot;ex-Interest on Equity&quot;. The Interest on Equity
were paid on August 09, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interim Dividends in the amount of R$ 200,000,000.00 (two hundred
million reais), pursuant to Article 37, item II, of the Company's Bylaws, calculated based on the profit for the year calculated up to
the balance sheet raised on September 30, 2024, equivalent to R$ 0.02555404556 per common share, R$
0.02810945011 per preferred share and R$ 0.05366349566 per Unit.</FONT></P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholders who were registered in the Company's records
at the end of October 17, 2024 were entitled to the aforementioned Interim Dividends approved at the meeting held on October 10, 2024.
Thus, as of October 18, 2024 (inclusive), Santander Brasil shares started to be traded &quot;ex-dividends&quot;. The dividends were paid
on November 08, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/14pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Interest on Equity, pursuant to articles 17, item XVIII and 37,
paragraph 2 of the Company's Bylaws, in the gross amount of R$ 1,300,000,000.00 (one billion and three hundred million reais), equivalent
to R$ 0.16610129610 per common share, R$ 0.18271142572 per preferred share and R$ 0.34881272182 per Unit, which after deducting the amount
related to Withholding Income Tax (&quot;IRRF&quot;), pursuant to the legislation in force, the net amount of R$ 1,105,000,000.00 (one
billion and one hundred and five million reais), equivalent to R$ 0.14118610169 per common share, R$ 0.15530471186 per preferred share
and R$ 0.29649081355 per Unit, with the exception of immune and/or exempt shareholders.</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The shareholders who were registered in the Company's records
at the end of October 17, 2024 were entitled to the aforementioned Interest on Equity approved at the meeting held on October 10, 2024.
Thus, as of October 18, 2024 (inclusive), Santander Brasil's shares began to be traded &quot;ex-Interest on Equity&quot;. Interest on
Equity was paid on November 08, 2024.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The table in item 2 of this Exhibit summarizes the above
information.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>7. </B></FONT><B>Provide
comparative table indicating the following values per share of each type and class<FONT STYLE="color: windowtext">:</FONT></B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>net
profit for the fiscal year and the 3 (three) previous fiscal years</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; width: 36%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>Description</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2022</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Net Income (in R$ thousands)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>13.035.452</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>8.864.227</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>12.358.521</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>14.995.509</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Earnings per share (in R$)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Common Action</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,76678</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,79410</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,86973</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>1,372215</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Preferred Stock</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,84345</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,87350</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>0,95671</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>1,509436</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Common Shares (in thousands)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.818.695 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.818.695 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.818.695 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.818.695 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%; text-indent: 8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Preferred Shares (in thousands)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.679.836 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.679.836 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.679.836 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.679.836 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>dividend
and interest on equity distributed in three (3) previous fiscal years</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Fiscal Year 2023</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Declaration Date</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Amount (in R$ thousands)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Value per share (in R$)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Net Value per share (in R$)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Payment Date</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">19/01/23</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.700.000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,21791867651</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,23971054416</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,45762922067</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18523087503</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,20375396254</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,38898483757</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">06/03/23</FONT></TD></TR>

<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">13/04/23</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.500.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,19202926704</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,21123219374</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,40326146077</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,16322487698</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,17954736468</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,34277224166</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">16/05/23</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">13/07/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.500.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,19206934435</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,21127627878</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,40334562313</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,16325894270</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,17958483697</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,34284377966</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">13/08/23</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">10/10/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;380.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,04866003444</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,05352603789</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10218607233</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,04866003444</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,05352603789</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10218607233</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">10/11/23</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">10/10/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.120.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,14341904889</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,15776095377</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,30118000266</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,12190619155</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,13409681071</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,25600300226</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">10/11/23</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">6.200.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,79409637123</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,87350600834</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1,66760237956</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,68228092070</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,75050901279</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1,43278993348</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD></TR>
  </TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Fiscal Year 2022</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Declaration Date</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Amount (in R$ thousands)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Value per share (in R$)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Net Value per share (in R$)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Payment Date</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">01/02/22</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.700.000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,21701568653</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,23871725519</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,45573294172</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18446333355</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,20290966691</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,38737300046</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">04/03/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">14/04/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;700.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,08945232373</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,09839755610</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18784987983</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,08945232373</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,09839755610</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18784987983</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">16/05/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">14/04/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.000.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,12778903390</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,14056793729</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,26835697119</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10862067882</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,11948274669</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,22810342551</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">16/05/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">05/08/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1.700.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,21774739699</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,23952213669</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,45726953368</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18508528744</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,20359381618</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,38867910362</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">06/09/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">13/10/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;820.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10502481038</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,11552729142&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,22055210180</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10502481038</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,11552729142&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,22055210180</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">22/11/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">13/10/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;880.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,11270955260</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,12398050786</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,23669006047</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,09580311971</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,10538343168</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,20118655140</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">22/11/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">6.800.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,869738804</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,956712685</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1,826451489</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,768449554</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,845294509</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">1,613744063</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Fiscal Year 2021</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Declaration Date</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Amount (in R$ thousands)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Gross Value per share (in R$)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Net Value per share (in R$)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Payment Date</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>ON</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>PN</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; color: white; line-height: 106%"><B>Unit</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">27/04/21</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;2.800.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,35744877</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,39319365</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,75064242</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,35744877</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,39319365</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,75064242</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">02/06/21</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">26/10/21</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;3.000.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,38298083</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,42127891</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,80425974</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,38298083</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,42127891</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,80425974</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">03/12/21</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interim Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">01/02/22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;1.300.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,16595317</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18254849</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,34850166</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,16595317</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,18254849</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,34850166</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">04/03/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">27/07/21</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;3.400.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,43404494</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,47744943</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,91149437</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,36893820</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,40583202</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,77477021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">03/09/21</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">Interest on Equity Already Declared</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">28/12/21</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">&nbsp;249.000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,03178685</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,03496553</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,06675238</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,02701882</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,02972070</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">0,05673952</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%">03/02/22</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>10.749.000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>1,372215</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>1,509436</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>2,881651</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>1,30234</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>1,432574</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt; line-height: 106%"><B>2,734914</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>8. </B></FONT><B>In case
there is allocation of profits to legal reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>identify
the amount <FONT STYLE="color: windowtext">allocated </FONT>for the legal reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Of the net income for the year 2024, in the amount of R$
13,035,452 thousand, the 5% portion was allocated to the constitution of the legal reserve in the amount of R$ 651,772 thousand.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>detail
the legal reserve calculation method</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">According to Article 193 of the Brazilian Corporation Law,
there is an obligation to constitute a legal reserve to which 5% of the net income of each fiscal year must be allocated, until the total
value of the reserve is equal to 20% of the capital stock.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>9. </B></FONT><B>If the
company has preferred shares entitled to fixed or minimum dividends</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. describe the calculation method for the fixed or minimum
dividends</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>inform
whether the profit for the fiscal year is sufficient for the full payment of fixed or minimum dividends</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>c. </B></FONT><B>identify
whether any unpaid installment is cumulative</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>d. </B></FONT><B>identify
the global value of fixed or minimum dividends to be paid to each class of preferred shares</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.&#9;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>e. </B></FONT><B>identify
the fixed or minimum dividends to be paid per preferred share of each class</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>10. </B></FONT><B>In
relation to the mandatory dividend</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>describe
the calculation method provided for in the Bylaws</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">The Company's Bylaws provide that an amount of not less
than 25% of net income, less allocations to legal and contingency reserves, shall be available for distribution in the form of dividends
or interest on equity in any fiscal year.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>inform
whether it is being paid in full</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In the 2024 fiscal year, the mandatory dividend was fully
paid, as shown in the spreadsheet below:</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="white-space: nowrap; width: 53%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>Description</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 106%"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Net Income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>13.035.452</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>8.864.227</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>12.358.521</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">(-) Legal Reserve</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">651.772</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">443.211</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">617.926</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>(=) Adjusted Net Income for Dividend Purposes (i)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>12.383.679</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>8.421.016</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>11.740.595</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Minimum Mandatory Dividend (25%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.095.919</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.105.254</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.935.149</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Interest on Equity (JCP)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.800.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.820.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">5.280.000</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">Early Dividends</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">200.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">380.000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%">1.520.000</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Total (JCP + Dividends) (ii)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.000.000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.200.000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>6.800.000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>Dividend Higher than the Minimum Required</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>2.904.080</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>4.094.746</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EEECE1; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 106%"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; line-height: 106%"><B>3.864.851</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>c. </B></FONT><B>inform
any amount withheld</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There was no withholding of minimum mandatory dividend</P>


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<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>11. </B></FONT><B>In
case there is mandatory dividend withholding due to the company's financial situation</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. inform the withholding amount</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>describe
in detail the company's financial situation, additionally addressing aspects related to liquidity analysis, working capital and positive
cash flows</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. justify the withholding of dividends</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>12. </B></FONT><B>In
case there is an allocation of results for contingency reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. identify the amount allocated to the reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There was no allocation of results for the constitution
of a contingency reserve in the Company.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>identify
the loss deemed probable and the cause thereof</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>c. </B></FONT><B>explain
why the loss has been deemed probable</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>d. </B></FONT><B>justify
the reserve constitution</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>13. </B></FONT><B>In
case there is an allocation of results for unrealized profit reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>inform
the amount <FONT STYLE="color: windowtext">allocated </FONT>for the unrealized profits reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There was no allocation of results for unrealized profits
reserve in the Company.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>inform
the nature of unrealized profits that originated the reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>14. </B></FONT><B>In
case there is an allocation of results for statutory reserves</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>describe
the statutory clauses that establish the reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The Company's Bylaws establish that, after deduction of
the values intended for legal reserve and the mandatory dividends, is possible to allocate the remaining amounts from the adjusted net
profit in the dividend equalization reserve, which may not exceed 50% of the Company&#8217;s share capital.</P>


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<P STYLE="font: 12pt/14pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>identify
the amount <FONT STYLE="color: windowtext">allocated </FONT>for the reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">In the proposal for the allocation of profit for the year
2024, the remaining balance of this profit in the amount of R$ 6,383,679 thousand, after allocating to the legal reserve account, dividends
and interest on equity, was allocated to the reserve account for equalization of dividends.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>c. </B></FONT><B>describe
how the amount was calculated</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">This is the remaining balance of profit for the year 2024,
after allocations to the legal reserve account, dividends and interest on equity.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>15. </B></FONT><B>In
case profit withholding is provided for in the capital budget</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>a. </B></FONT><B>identify
the withholding amount</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There was no retention of profits in the Company, according
to the capital budget.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. provide a copy of the capital budget</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>16. </B></FONT><B>In
case there is an allocation of results for tax incentives reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. inform the amount allocated to the reserve</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">There was no allocation of results for the constitution
of a reserve of tax incentives in the Company.</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>b. </B></FONT><B>explain
the nature of the allocation</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT IV</P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">PROPOSAL FOR THE ELECTION OF THE COMPANY'S
BOARD OF DIRECTORS</P>

<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">(Items 7.3
to 7.6 of the Reference Form)</FONT></P>

<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Deborah Stern Vieitas</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">21/08/1957</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Public Administrator and Journalist</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">013.968.828-55 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Chairman of the Board (independent) </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">23/08/2017</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">Mrs. Deborah Vieitas is Brazilian, holds French nationality, and was born on August 21, 1957. She holds a degree in Public Administration from FGV-SP and in Journalism from the School of Communications and Arts at USP. He also holds a master's degree in Administration from FGV-SP and a postgraduate degree in Public Administration from the &Eacute;cole Nationale d'Administration. She was CEO of the American Chamber of Commerce for Brazil (Amcham Brasil), from 2015 to 2022. From 2015 to 2017, she was an independent member of the board of AXA Seguros SA. From 2008 to 2014, he was CEO and member of the Board of Directors of Banco Caixa Geral - Brazil. From 2000 to 2008, she was Vice President of Banco BNP Paribas Brasil, responsible for Large Corporate and Financial Institutions Coverage and financing portfolios. From 1998 to 2000, she was Vice President of Banco CCF Brasil in charge of Large Corporate &amp; Corporate Coverage, Capital Markets, Trade Finance and Foreign Exchange. She is currently Independent Chairman of the Board of Directors and coordinator of the Nomination and Governance Committee of Banco Santander (Brasil) S.A., and current member of the Risk and Compliance Committee; Compensation Committee. Since 2022, she has held the position of independent member of BRF's Board of Directors and is a member of the Audit and People Committees. </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. Vieitas meets the independence criteria according to paragraph 3 of Article 14 of the Company's Bylaws.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Risk and Compliance Committee; Compensation Committee; and Coordinator of the Nominating and Governance Committee</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Risk and Compliance Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 02/05/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 02/05/2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Compensation Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 25/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 25/05/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Nominating and Governance Committee Coordinator</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 25/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 25/05/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. Vieitas declares that she has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified her from practicing any professional or commercial activity.</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Javier Maldonado Trinchant</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">11/07/1962</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Bachelor of Laws</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">233.921.48-47</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Vice Chairman of the Board </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">01/01/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">Mr. Maldonado is Spanish and was born on July 11, 1962. He holds a law degree from UNED University and Northwestern University. Mr. Maldonado joined the Santander Group in 1995 as Head of the International Legal division of Banco Santander de Neg&oacute;cios, S.A.. Mr. Maldonado currently holds the position of Senior Executive Vice President and Chief Cost Officer of Grupo Banco Santander, S.A. Mr. Maldonado served on the board of Alawwal Bank (formerly known as Saudi Hollandi Bank Riyadh) from 2008 to 2019. He practiced corporate and international law for thirteen years and was previously an attorney at Baker &amp; McKenzie and Head of the corporate and international law department at J.Y. Hernandez-Canut. At Santander Brasil, he serves as vice chairman of the Board of Directors and as a member of the Nomination and Governance committee.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Nominating and Governance Committee</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Nominating and Governance Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 02/01/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 02/01/2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. <FONT STYLE="color: black">Trichant </FONT>declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity.</FONT></TD></TR>
  </TABLE>
<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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  <TR>
    <TD STYLE="white-space: nowrap; width: 39%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 61%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Cristina San Jose Brosa</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">16/06/1978</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Administrator</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">PAN818923</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Board Member </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24/02/2025</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. San Jose is Spanish and was born on June 16, 1978. He holds a bachelor's degree in Mathematics from the University of Zaragoza and an MBA in Finance from New York University. Ms. San Jose joined the Santander Group in 2015 and currently holds the position of Chief Data Officer of the Santander Group, where she leads the Data Management &amp; Governance and the Machine Learning Lab. Prior to joining the Santander Group, Mrs. San Jose was a lead partner of McKinsey &amp; Company's Global Machine Learning Hub. He is currently a member of the Board of Directors of Banco Santander (Brasil) S.A. and a member of the Risk and Compliance Committee.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Risk and Compliance Committee</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. San Jose declares that it has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified it from practicing any professional or commercial activity.</FONT></TD></TR>
  </TABLE>
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  <TR>
    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Cristiana Almeida Pipponzi</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">22/12/1974</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Business Administrator</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">285.220.788-58</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Board Member (independent) </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">14/09/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">Mrs. Cristiana Pipponzi is Brazilian and holds a degree in Business Administration from the Faculty of Economics and Administration of the University of S&atilde;o Paulo, an MBA from INSEAD in France. She has worked with e-commerce projects at E&amp;Y and was Director of Marketing, Institutional Communication and Sustainability at Droga Raia S.A. She currently holds the position of advisor to Droga Raia S.A. At Santander Brasil, she serves as a member of the Board of Directors and of the Sustainability and Nomination and Governance committees. </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Ms. Pipponzi meets the independence criteria set forth in paragraph 3 of Article 14 of the Company's Bylaws.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Sustainability Committee; and the Nominating and Governance Committee</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Sustainability Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 02/01/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 02/01/2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member: Nominating and Governance Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 24/07/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 07/24/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after OGM 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. <FONT STYLE="color: black">Pipponzi</FONT> declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity.</FONT></TD></TR>
  </TABLE>
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  <TR>
    <TD STYLE="white-space: nowrap; width: 39%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 61%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Deborah Patricia Wright</B></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">04/09/1957</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Business Administrator</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">031.544.298-08</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Independent Board Member </FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">OGM 2027</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>

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    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">20/02/2017</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. Deborah Wright is Brazilian, born on September 4, 1957. Graduated in business administration from the School of Business Administration of S&atilde;o Paulo, Funda&ccedil;&atilde;o Get&uacute;lio Vargas (EAESP-FGV). Ms. Wright began her career in 1980 in Kibon's Marketing Department, where she remained until 1989. In 1989, he joined Unilever as a marketing manager, and worked in the food segment. In 1991, she returned to Kibon as Chief Marketing Officer, and became Vice President Commercial in 1994. In 1995, she became general manager of Kraft Suchard Foods. In 1997, he held the position of general manager of Kibon. At ICI/Paints, he held the position of general manager of Tintas Coral Brasil from 1997 to 1999 and, subsequently, was regional manager of ICI. She was also general director at Parmalat Brasil in 1999, and CEO of the Internet Division of Grupo P&atilde;o de A&ccedil;&uacute;car from 2000 to 2001. From 2002 to 2007, he was corporate vice president/commercial vice president in the Sales and Corporate Marketing area of Grupo Abril. From 2009 to 2010, she was CEO/Regional Manager of Ipsos Brazil, a market research firm. He has served as a board member since 2001. From 2001 to 2005, he was a member of the Board of the American School of S&atilde;o Paulo (Graded School). From 2005 to 2006, he was a member of the superior council of CONAR (National Council for Advertising Self-Regulation). From 2008 to 2009 he was a member of the Board of Directors of Hospital Samaritano in S&atilde;o Paulo. From 2008 to 2014, he was a member of the Board of Directors of Lojas Renner, a Brazilian publicly traded company specializing in clothing retail, as well as chairman of the Sustainability Committee, from 2012 to 2014. From 2013 to 2016 he was a member of the Advisory Board of Eurofarma, the 4th largest Brazilian pharmaceutical company, privately held and not listed on the stock exchange. She is currently associated with the following entities: WCD (Women Corporate Directors) Brazilian Group, of which she was co-founder in 2010; Strategy Committee of the IBGC (Brazilian Institute of Corporate Governance), where he is leader of the DEI (Diversity, Equity and Inclusion) Working Group; Strategic Forum on Corporate Governance of AmCham (American Chamber of Commerce); and is an ambassador for the 30% Club and WOB (Women on Boards), being involved in the defense of gender diversity for more than a decade. In addition, Ms. Wright is an independent member of the board of directors, a member of the nomination and governance committee and coordinator of the compensation committee of Banco Santander (Brasil) S.A. Mrs. Wright meets the independence criteria pursuant to paragraph 3 of Article 14 of the Company's Bylaws.</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Nominating and Governance Committee; and Coordinator of the Compensation Committee</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Nominating and Governance Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 25/05/2023</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 25/05/2023</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; vertical-align: top; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Coordinator of the Compensation Committee </I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 25/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 25/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. Wright declares that she has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified her from practicing any professional or commercial activity</FONT></TD></TR>
  </TABLE>

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    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Ede Ilson Viani</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">05/09/1967</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Accountant</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">064.923.468-58</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Counselor</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">13/06/2023</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Viani is Brazilian and was born on September 5, 1967. He holds a degree in accounting sciences and an MBA in Finance from the Brazilian Institute of Capital Markets IBMEC. He was an auditor at Banco Ita&uacute; S.A. from 1986 to 1990. He worked at BankBoston S.A. for 16 years as Senior Auditor, Superintendent of Credit Risks, Executive Superintendent of Loan Products and Supte Exec of Small and Medium Enterprises. He started at Santander Brasil in 2007 as Director responsible for Small and Medium Enterprises and from July 2010 to 2014 he was Director of Retail Risks. From 2014 he was Director responsible for Companies, Governments &amp; Institutions and Agribusiness and then Director responsible for the branch network until December 2019 when he assumed the position of Executive Vice President, responsible for Technology &amp; Operations. Since June 2023, he has also been a member of the Board of Directors of Banco Santander (Brasil) S.A. In 2024, he became responsible for the Retail area of Banco Santander (Brasil) S.A..</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Executive Vice President</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Executive Vice President</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 12/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 10/27/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. <FONT STYLE="color: black">Viani </FONT>declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity</FONT></TD></TR>
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<P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>



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    <TD STYLE="white-space: nowrap; width: 39%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 61%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Jos&eacute; de Paiva Ferreira</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">01/03/1959</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Administrator</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">007.805.468-06</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Board Member (independent)</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">OGM 2027</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">27/03/2008</FONT></TD></TR>

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    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Jos&eacute; Paiva is Portuguese, born on March 1, 1959. He holds a specialization in Business Administration from Funda&ccedil;&atilde;o Get&uacute;lio Vargas, and an MBA from The Wharton School of Business, at the University of Pennsylvania. He has been working in financial markets for over 40 years. Mr. Paiva began his career at Banco Bradesco in 1973 and has held several positions. He then joined Banco Geral do Com&eacute;rcio, Noroeste and Santander Brasil, where he was executive vice president, responsible for Business, Human Resources, Operations, Technology, Equity, Products, Marketing, Credit Cards, Insurance, Leasing and Branch Network. From 2000 to 2001, he held the position of e-business director for Latin America, for the America Division of Santander Central Hispano. At the end of 2001, he returned to Brazil to work at Banco Banespa, as executive vice president, responsible for Human Resources, Technology, Operations and Assets. In 2003, he became the executive vice president responsible for the Marketing, Products and Retail sectors of Santander Brasil. In 2008, he became the CEO of Santander Brasil, a position he held until the merger with Banco Real, when he became senior executive vice president, responsible for the Retail Sector. In March 2011, Mr. Paiva became a member of the Board of Directors of Santander Brasil, and joined the Mitsubishi Corp Group headquartered in Los Angeles, California, USA in the position of Senior Executive Vice President. From July 2013 to December 2019, he returned to Santander Brasil and served as senior executive vice president responsible for Human Resources, Organization, Equity, Processes, Operations, Technology and Costs. Additionally, he held the following positions: Executive Director of Febraban (2014 to 2019), Chairman of the Self-Regulation Council of Febraban (2016 to 2019), Chairman of the Board of Directors of CIP - Interbank Payments Chamber (2015 to 2018), Chairman of the Board of Tecban - Banking Technology (2014 to 2015), Counselor of the Cancer Institute - SP (2009 to 2010) and Mentor of the Inova Unicamp Program (2011 to 2013). Mr. Paiva is currently a member of the Board of Directors and Coordinator of the Risk and Compliance Committee of Banco Santander (Brasil) S.A. Mr. Paiva meets the independence criteria set forth in paragraph 3 of article 14 of the Company's Bylaws.</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Coordinator of the Risk and Compliance Committees</FONT></TD></TR>
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    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Coordinator of the Risk and Compliance Committee</I></B></P>
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 25/05/2023</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 25/05/2023</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Paiva declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; vertical-align: top; width: 61%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Mario Roberto Opice Le&atilde;o</B></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">21/07/1975</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Engineer</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">248.745.618-37</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Counselor</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">02/02/2022</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Mario is Brazilian and was born on July 21, 1975. He holds a degree in Production Engineering from the Polytechnic School of the University of S&atilde;o Paulo. He joined Santander Brasil in October 2015 as Executive Director in Corporate and Investment Banking. In July 2017, he became Executive Vice President of Enterprise and SMEs and a member of our Executive Committee. Since January 2022, he has served as CEO of Santander Brasil. Prior to joining Santander Brasil, he was Managing Director of Capital Markets at Morgan Stanley from 2008 to 2015, worked at Goldman Sachs from 2006 to 2008 and at Citibank from 1996 to 2006.</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Chief Executive Officer </FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>Chief Executive Officer</I></B></P>
    <P STYLE="font: 9pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 12/05/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 10/27/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Mario declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity</FONT></TD></TR>
  </TABLE>
<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>



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  <TR>
    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Pedro Augusto de Melo</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">04/11/1961</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Accountant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">011.512.108-03</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Board Member (independent)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">17/07/2020</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. Pedro Augusto de Melo is Brazilian and was born on November 4, 1961. He holds a degree in accounting sciences and a postgraduate degree in accounting and financial administration from the S&atilde;o Judas Tadeu College of Accounting Sciences in S&atilde;o Paulo. Since March 2, 2020, he has held the position of CEO of the Brazilian Institute of Corporate Governance (IBGC). He is also a member of the Governance Committee of Amcham Brasil and an executive of the Union of Accounting Companies - SESCON. He developed his career in the audit areas of Deloitte and KPMG. From 2008 to 2017, he was CEO of KPMG Brazil, accumulating, in 2015, the position of CEO of KPMG South America. On October 1, 2017, he assumed the roles of COO for South America and Customer and Market Leader for South America until retiring from the company in early 2020. He has also actively participated in other levels of governance at KPMG International, KPMG Americas and KPMG South America. He was Chairman of the Board of Directors of IBRACON - Brazilian Institute of Independent Auditors between 2009 and 2010. He is currently a member of the board of directors and coordinator of the Audit Committee of Banco Santander (Brasil) S.A. Mr. Pedro Augusto de Melo meets the independence criteria according to paragraph 3 of Article 14 of the Company's Bylaws.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Audit Committee Coordinator</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Audit Committee Coordinator</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 02/05/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 07/18/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mr. de Melo declares that he has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified him from practicing any professional or commercial activity</FONT></TD></TR>
  </TABLE>
<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
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    <TD STYLE="border: black 1pt solid; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; vertical-align: top; width: 61%; border-bottom: black 1pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Vanessa de Souza Lobato Barbosa</B></FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Date of birth</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">24/12/1968</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Profession</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Business Administrator</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>CPF or passport number</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">758.525.866-68</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Elected office held</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Board Member </FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Election date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">25/04/2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Inauguration Date</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">After approval of the election process by the Central Bank of Brazil</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Term of office</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: black">OGM 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Whether he was elected by the controller or not</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Yes</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>First Term Start Date </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">04/06/2024</FONT></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Professional Experience / Independence Criteria:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. Lobato is Brazilian, born on December 24, 1968. Bachelor of Business Administration from the Pontifical Catholic University of Minas Gerais, and has a specialization in Marketing from the Federal University of Minas Gerais. From 1990 to 1995, he worked in the Marketing area at Banco Nacional, being responsible for the sponsorship budget and micro marketing activities focused on the retail network. She also worked at Unibanco, in Recife, from 1995 to 1999, where she was responsible for several branches in the city of Recife. In 1999, he started working for Santander Brasil, where he served as General Manager of the Recife branch. From 2001 to 2006, she worked as Local Superintendent, where she was responsible for one of the Regional Retail Departments, based in Belo Horizonte, which covered the states of Minas Gerais, Goi&aacute;s, as well as Bras&iacute;lia, and the states of the northeast region. From 2006 to 2013, Ms. Lobato assumed the position of Executive Superintendent of our branch network, being responsible for one of our retail branches in Brazil, specifically the &quot;SPI Centro Sul&quot; branch, in Campinas, state of S&atilde;o Paulo, which covered important cities such as: Campinas, Jundia&iacute;, Sorocaba, Piracicaba, Limeira and Americana, in a total of 258 branches in 94 cities. From 2013 to 2020, she led, as one of our Executive Vice Presidents, the Vice President of Human Resources and from 2021 to 2023 she served as Vice President responsible for the Retail area of Santander Brasil. He is currently a member of the Board of Directors of Santander Brasil and also is as a member of the compensation committee.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Description of other positions or functions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Member of the Compensation Committee</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B><I>Member of the Compensation Committee</I></B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Election date: 02/05/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Inauguration date: 02/05/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Term of office: 1st Board of Directors Meeting after 2025 OGM</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt"><B>Convictions</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Mrs. <FONT STYLE="color: black">Lobato </FONT>declares that she has not suffered any criminal conviction, conviction in an administrative proceeding of the CVM, or final and unappealable conviction, in the judicial or administrative sphere, that has suspended or disqualified her from practicing any professional or commercial activity</FONT></TD></TR>
  </TABLE>
<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>7.5 Family relationships</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There is no marital relationship, stable union or kinship
up to the second degree between the issuer's managers; between the issuer's managers and the issuer's direct or indirect subsidiaries; between managers of the issuer
or its subsidiaries, direct or indirect, and direct or indirect controllers of the issuer; and managers of the issuer and managers of
the issuer's direct or indirect controlled companies.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>7.6 Subordination, service provision or control relationships:
</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">As for the subordination
item, Santander Brasil has three (3) members of the Board of Directors who also hold positions in the Santander Spain Group, namely: Javier
Maldonado Trinchant and Cristina San Jose Brosa.</FONT></P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left; color: red"><B>&nbsp;</B></P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT V</P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">ITEM 8 of the Reference Form</P>

<P STYLE="color: red; font: 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">(Pursuant to
item II of the article 13 of the CVM Resolution 81/22)</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.1. Describe the remuneration policy or practice of
the Board of Directors, the Statutory and Non-Statutory Executive Board, the Fiscal Council, the Statutory Committees and the Audit, Risk,
Financial and Remuneration Committees.</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt"><I>A.</I></FONT>
Board of Directors</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">All members of our Board of Directors
are entitled to a fixed compensation consisting of monthly fees and benefits. In exceptional and fully justified cases, the Chairman of
the Board of Directors may also receive an annual variable compensation for his or her duties, upon resolution of the Compensation Committee
and the Board of Directors, and always within the overall limit of the annual compensation approved at the annual general meeting.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">It is important to note that, in the
event that a member of the Board of Directors is also a member of our Audit Committee, under the terms of the applicable regulations and
the internal regulations of the Audit Committee, such member must opt for the compensation of one of the bodies. With regard to the other
Advisory Committees, if one of the members or the Chairman of the Board of Directors becomes part of them, he will be entitled to the
remuneration attributed as a member or Chairman of the Board.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><I>B.</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Executive Board</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The members of our Executive Board
are entitled to: fixed compensation consisting of monthly fees, benefits, social security and variable compensation, always within the
global limit of the annual compensation approved at the annual general meeting.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The variable remuneration will be
paid considering the different deferral percentages, depending on the level of variable remuneration received in the year (including the
value of the Long-Term Incentive - ILP in the year of the grant, valued at the grant price), and observing the <I>Malus and/or Clawback
recovery/restitution clauses </I> with the possibility of reduction and/or return of up to 100% of the variable remuneration amount in
the assumptions.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><I>C.</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Audit Committee</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Our Audit Committee is composed of
at least three and at most six members, appointed by the Board of Directors, among persons, whether or not members of the Board of Directors,
who meet the legal and regulatory conditions required for the exercise of the position, being entitled to a fixed monthly compensation.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>


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<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 6.3pt 0 0; text-align: justify; text-indent: 21.3pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><I>D.</I></FONT><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></I> <FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Compensation, Nomination and Governance, Sustainability, and
Risks and Compliance Committees - Advisory Committees.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Board of Directors approves the
fixed monthly compensation of the members of the Advisory Committees, and only those members who do not hold a position on the Executive
Board will be entitled to this compensation.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The members of the Advisory Committees
are not entitled to any other type of remuneration or benefit.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 6.1pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="letter-spacing: -0.1pt">a.</FONT>
Goals of the compensation policy or practice, informing if the compensation policy has been formally approved, body responsible for its
approval, date of approval and, if the issuer discloses the policy, locations in the worldwide computer network where the document can
be consulted.</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Company has a Compensation Policy
approved and revised at the Board of Directors' meeting held on 09.19.2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Board of Directors' Compensation
Policy seeks to ensure the following premises:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 61.7pt"></TD><TD STYLE="width: 14.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.7pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Ensure the alignment
of the interests of shareholders and the public with which the Company relates, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 61.7pt"></TD><TD STYLE="width: 14.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.8pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">To promote the Company's
good performance and guarantee the interests of shareholders, through a long-term commitment.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 13.8pt 0 76pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The purpose of the Board of Executive
Directors' compensation policy/practice is to support the organization's strategy to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 58pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.65pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Promote our good
recurring performance, ensure the interests of our shareholders, <FONT STYLE="color: #262626">create long-term value and be compatible
with adequate, rigorous risk management and long-term strategy, values and interests, as well as maintain a solid capital base; </FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 58pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.6pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Recognize meritocracy,
differentiating the individual contributions of the areas and the Company in the fulfillment of objectives and in the execution of business
strategies, proposed by the Executive Board and approved by the Board of Directors<FONT STYLE="color: #262626">, regardless of ethnicity,
race, gender or any personal issue</FONT>; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 58pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.55pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Maintain the competitiveness
of the compensation paid by us <FONT STYLE="color: #262626">in a way that facilitates the attraction and retention of managers. </FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 13.55pt 0 76pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The compensation of the Audit Committee
must be adequate to attract qualified, experienced professionals and recognize the performance of their duties established in the bylaws.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 6.2pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Practices and procedures adopted by the board of directors to define
the individual remuneration of the board of directors and the executive board, indicating:</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>




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<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 6.3pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt"><B>i.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">the bodies and committees of the issuer that participate in the
decision-making process, identifying how they participate</FONT></B></P>
<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 6.3pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">It is up to the General
Meeting to set the annual global compensation for distribution among our managers. Subsequently, it will be up to the Board of Directors,
with the assistance of our Compensation Committee, to distribute the amount, individually, to each member of the Board and the Executive
Board, which will include the attribution of all benefits.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 5.85pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt">ii.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">criteria and methodology used to set individual remuneration, indicating
whether studies are used to verify market practices, and, if so, the criteria for comparison and the scope of these studies</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">The criteria and methodology
used to set the individual compensation are aligned with the practices adopted by the market, measured periodically through salary surveys
carried out by specialized consultancies, the performance history and seniority of the occupants.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">In addition, it is the role
of our Compensation Committee:</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.85pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">(i)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">analyze the management compensation policy in relation to market
practices, with a view to identifying significant discrepancies in relation to similar companies; and</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.85pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">(ii)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">ensure that the management compensation policy is permanently compatible
with the risk management policy, the company's strategy and the maintenance of a solid capital base.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.85pt 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 6.2pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.05pt">iii.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.05pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">how often and how the Board of Directors assesses the adequacy of
the issuer's remuneration policy.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">Our Compensation Committee
is responsible for annually reviewing the Compensation Policy, recommending to the Board of Directors its correction or improvement, whenever
necessary.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">c.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Composition of remuneration, indicating:</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 6.25pt 0 61.7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">Description
of the elements of remuneration and the objectives of each of them</FONT></P>

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<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13.3pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fixed Compensation:
The fixed compensation is composed of monthly fees, based on market research data prepared by a specialized external consultancy, whose
maximum global value is approved annually at the annual general meeting. Fixed compensation aims to attract and retain professionals with
the skills and experience necessary for the role.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 13.3pt 0 63.8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.9pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Benefits: The
                                                                                                                                  benefits offered are aligned with the size of the position held and market practices, including Medical Care, Dental Care and Life
                                                                                                                                  Insurance. For the Chief Executive Officers and Vice Presidents, in addition to these benefits, a driver is also available and, only
                                                                                                                                  for the Chief Executive Officer, a vehicle is made available for locomotion. For expatriate members of the Board, we can offer
                                                                                                                                  expatriation benefits such as rent payments, children's schools,
living expenses, etc. The benefits aim to attract and retain professionals with the skills and experience necessary for the position.</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.9pt 0 63.8pt; text-align: justify">Private Pension: To date, members of the
Board of Directors who do not exercise executive functions in the Company are not eligible for private pension. The same applies to members
of the Audit Committee (they are not eligible for this benefit). For the members of the Executive Board, the pension plan is made available
with the objective of attracting and retaining professionals with the skills and experience necessary for the position. We currently have
three pension plans: SantanderPrevi, a plan that has been closed to new members since July 2018, SBPrev, implemented as of January 2018
for new employees/managers and new members, and Santander Partners, which replaced the SantanderPlus pension plan in January 2024, for
a restricted group of executives, which, like the SantanderPrevi and SBPrev plans, provides future supplementary income.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.9pt 0 63.8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/15pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.85pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Annual Variable
Compensation: The annual variable compensation is composed of the Own Management Program (PPG) and the Long-Term Incentive Plans (ILP).
Currently, only the members of the Executive Board are eligible for the Own Management Program (PPG) and the Long-Term Incentive Plans
(ILP). When granted, the calculation of the Own Management Program (PPG) must consider individual performance, performance of the business
units and performance of the institution as a whole, as well as the form of payment and the different deferral percentages, according
to the level of variable compensation received in the year, and observe the <I>Malus and/or Clawback </I>clausewith the possibility of
reduction and/or refund of up to 100% of the value of the variable remuneration in the cases foreseen. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 61.7pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 61.7pt; text-align: justify"><I>(i.1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Own
Management Program (PPG)</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The objective of the Annual Variable
Compensation (PPG) program is to mobilize and recognize, through meritocracy, the organization's performance. This program, to which the
members of the Executive Board are eligible, takes into account individual performance, measured through the institutional performance
evaluation tool (Direction by Objectives &#8211; DPO) and includes quantitative and qualitative indicators, the performance of the business
unit, measured through the DPO of the area, and reflects the objectives of the area in the exercise and in the performance of the institution
as a whole.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">As of 2016, variable compensation
began to be calculated according to the following model:</P>

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<P STYLE="font: 12pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>



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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">For the 2024 fiscal year, the Quantitative
Metrics evaluated were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 50%; border-top: white 2.25pt solid; border-right: white 2.25pt solid; border-left: white 2.25pt solid; border-bottom: white 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Category</B></FONT></TD>
    <TD STYLE="width: 50%; border-top: white 2.25pt solid; border-right: white 2.25pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Metrics</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="4" STYLE="border-right: white 1.5pt solid; border-bottom: white 1.5pt solid; border-left: white 1.5pt solid; background-color: #D6E3BC; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Customers (45%)</FONT></TD>
    <TD STYLE="border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Total Customers (Growth)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Active Customers (Growth)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Revenue from Active Customers</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Outgoings</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: white 1.5pt solid; border-bottom: white 1.5pt solid; border-left: white 1.5pt solid; background-color: #D6E3BC; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Capital (30%)</FONT></TD>
    <TD STYLE="border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Capital Generation</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: white 1.5pt solid; border-bottom: white 1.5pt solid; border-left: white 1.5pt solid; background-color: #D6E3BC; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Sustainable Profitability (25%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">ROTE</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Board of Directors, on the recommendation
of the Compensation Committee, will carry out a <I>qualitative assessment</I> of each quantitative metric, considering the way in which
each objective was achieved and other relevant and contextual aspects that are not directly reflected in each indicator. This <I>assessment</I>
can increase or decrease the result of each metric by up to 25%.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">In the specific case of the Chief
Executive Officer, variable compensation may also be affected by the results of the Santander Mundial Group.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Annual variable compensation for statutory
directors is paid as follows:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 6%; border: #C2D69B 1.5pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In sight</FONT></TD>
    <TD STYLE="width: 2%; border-right: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-top: #C2D69B 1.5pt solid; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; background-color: #D6E3BC; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">30%</FONT></TD>
    <TD STYLE="width: 84%; border-top: #C2D69B 1.5pt solid; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Cash</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; background-color: #D6E3BC; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">30%</FONT></TD>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In Instruments, with 1-year lockup</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; border-left: #C2D69B 1.5pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Deferred</FONT></TD>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white">20%</FONT></TD>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Cash in 4 equal annual installments</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; background-color: red; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white">20%</FONT></TD>
    <TD STYLE="border-right: #C2D69B 1.5pt solid; border-bottom: #C2D69B 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">On instruments in 4 equal annual tranches, with a 1-year lockup</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The percentage of deferral will also
depend on the level of variable compensation received in the year, with the minimum criterion presented above. In the case of the Chief
Executive Officer, the deferral in this program is at least 50%, with a minimum of 25% for each of the items mentioned above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Since 2015, for cases of variable
compensation exceeding a certain amount established in the policy, the payment of deferred installments has increased from three to five
equal annual installments, maintaining the lockup conditions.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Between the financial years 2016 and
2021, the deferral plan of the Executive Committee and other executives chosen by the Executive Committee, had the payment of the last
installment (in the case of the deferral in 3 years) or the last three installments (in the case of the deferral in 5 years), subject
to the achievement of the results indicators of the Santander Mundial Group, with a weight of 30%.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">As of the 2022 fiscal year, only the
deferral of the Chief Executive Officer maintains the impact on the last three installments (deferral in 5 years), subject to the achievement
of the Santander Mundial Group's result indicators, with a weight of 30%.</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Plan is also subject to a <I>Malus
</I>and/or <I>Clawback</I> clause, i.e., our Board of Directors, on the recommendation of the Compensation Committee (CR), may approve
the reduction and/or return of up to 100% of the value of each participant in cases previously approved by our Compensation Committee.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">As of 2023, we have included in our
Compensation Policy, in the <I>Clawback clause,</I> rules applicable specifically to subject executives, in cases of restatement of the
financial statements as a result of material failure to comply with financial reporting requirements, as an American Depositary Receipt
company listed on the New York Stock Exchange (NYSE) and in compliance with the requirements of Section 10D of the Exchange Act and Section
303A. 14 of the Manual for the Listing of Companies with shares traded on the NYSE (the Listing Rule).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 61.7pt; text-align: justify"><I>(i.2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Long-Term
Incentive Plans (ILP)</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 0 61.7pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The objective of the ILP is to align
the interests of the organization and the interests of the participants, stimulating the retention of professionals in the long term.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Our long-term programs are divided
into Local and Global plans, with specific performance indicators and conditions of maintaining the participant's employment relationship
until the date of payment to be entitled to receive it.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The calculation of the payment of
the plans is carried out based on the percentage of achievement of the indicators applied to the reference value (target), with the Local
plans being paid in SANB11 Units and the Global plans in Santander Group instruments.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Each participant has a reference value
defined in cash, converted into SANB11 units or Santander Group instruments, usually by the price of the last 50 trading sessions of the
month immediately prior to the granting of each plan. At the end of the <I>vesting period </I> , the resulting shares are delivered with
a restriction of 1 year, and this payment is also subject to the application of the <I>Malus/Clawback</I> clauses, which may reduce or
cancel the shares to be delivered in cases of non-compliance with internal rules and exposure to excessive risks.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>(i.2.b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Local
Plans</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">Retention Plans</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">In specific and punctual situations,
both managers and employees may have a retention plan linked to the area or individual, with the objective of retaining it and ensuring
the sustainability of the business and the Bank. Each plan has a specific contract and provides for payment according to the individual's
performance and permanence, observing local and global regulatory resolutions.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>(i.2.b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Plans</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt"><I>Global ILP Plans &#8211; 2019,
2020, 2021, 2022 and 2023</I></P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">We currently have 5 global plans in
place launched in 2019, 2020, 2021 and 2022, 2023. Eligible executives had an incentive target based on the target number of Santander
Group instruments. The payment according to the fulfillment of the performance indicators will be calculated on the target quantities
of shares/options after a deferral period of three to five years, with the equivalent settlement being made in cash.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">In relation to the last 3 fiscal
years, what is the proportion of each element in the total compensation</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">The estimated proportion of each element
in the total remuneration is as follows:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 43%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fixed Remuneration</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">99,32%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">98,97%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">98,08%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,68%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">1,03%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">1,92%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 43%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Board</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fixed Remuneration</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">24,79%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">24,66%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21,55%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1,56%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1,44%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1,45%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Security</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">15,74%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16,95%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21,53%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Variable Compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">27,85%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">27,19%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">27,48%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Share-based compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30,05%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">29,76%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">27,99%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 43%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>Audit Committee</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fixed Remuneration</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">100,00%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">100,00%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">100,00%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 43%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; color: white"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fixed Remuneration</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">100,00%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">100,00%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0,00%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As provided for in the Company's Bylaws, the Fiscal Council
is a non-permanent body. Its installation took place at the Company's Annual General Meeting held on April 26, 2019, April 30, 2020 and
April 30, 2021.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The members of our fiscal council elected at the Annual
General Meeting held on April 29, 2022 were entitled to a fixed compensation consisting of monthly fees in the amount approved on the
same occasion, until April 28, 2023, the date of our 2023 Annual General Meeting and the end of their terms.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">At the Annual General Meeting for the years 2023 and 2024,
we did not receive votes for the installation of the Fiscal Council and, therefore, there was no member elected to hold office in such
body and therefore we did not record payment of fees to members of the Fiscal Council in these years.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 5.2pt 0 0; text-align: justify; text-indent: 0in">Methodology for calculating
and readjusting each of the elements of remuneration</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 12.25pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fixed Remuneration: There is no automatic methodology for readjustment.
Market research is carried out annually to assess the competitiveness of the compensation of Directors/Officers and members of the Audit
Committee. If any material difference in relation to the market is identified, the Compensation Committee evaluates the need to propose
adjustments to the Board of Directors.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 12.25pt 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 12.2pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Variable Compensation: There is no automatic methodology for readjustment.
Market research is conducted annually to assess the competitiveness of the compensation of the Board of Directors/Executive Officer. If
any material difference in relation to the market is identified, the Compensation Committee evaluates the need to propose adjustments
to the Board of Directors. It does not apply to members of the Audit Committee.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 12.2pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 12.2pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Benefits: There is no automatic methodology for readjustment. Market
research is conducted annually to assess the competitiveness of compensation, including benefits, of Directors, Officers and members of
the Audit Committee. If any material difference in relation to the market is identified, the Compensation Committee evaluates the need
to propose adjustments to the Board of Directors.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 12.2pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 12.6pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Social Security: Does not apply to Directors and members of the
Audit Committee. For the Executive Officers, as defined in the plan's regulations. See item 8.14 of the Reference Form.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 12.6pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 13.35pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Instrument-Based Compensation: Does not apply to Directors and members
of the Audit Committee. For the Directors, as defined in the regulations of each plan. See item 8.4 of the Reference Form.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 13.35pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">(ii). Reasons that justify the
composition of the remuneration</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The proposed compensation considers the experience of the
members of the Board of Directors, the Executive Board and the Audit Committee, the need to retain talent in a competitive market and
the promotion of the organization's good performance and alignment with the strategy of the shareholders, and in relation to the members
of the Executive Board, through a long-term commitment.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 6.25pt 0 35.45pt; text-align: justify; text-indent: 0in">(iii.) The existence
of members not paid by the issuer and the reason for this fact</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">There were two unpaid members on the
Board of Directors, representatives of Santander Spain. They received remuneration at the Parent Company, for their executive functions
in it. Both resigned as Members of the Board of Directors in 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">There are no unpaid members on the
Executive Board.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">There are no unpaid members on the
Audit Committee.</P>


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<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 6.2pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="letter-spacing: -0.1pt">d.</FONT>
Existence of remuneration borne by subsidiaries, subsidiaries or direct or indirect controllers</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">The compensation of the
members of the Board of Directors and the members of the Audit Committee is not borne by subsidiaries, subsidiaries or our direct or indirect
controllers. However, the members of the Board of Directors who also exercise executive functions of Santander Spain, our indirect controller,
or in other companies controlled by Santander Spain are remunerated, as a result of such functions, directly by said companies, in accordance
with the activities carried out by them.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">The compensation of the
members of the Executive Board is not supported by subsidiaries, subsidiaries or our direct or indirect controllers. However, the results
of subsidiaries and affiliates influence our consolidated results, and consequently, the variable compensation of the members of the Executive
Board.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt/15pt Verdana,sans-serif; margin: 0 6.25pt 0 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="letter-spacing: -0.1pt">e.</FONT>
Existence of any remuneration or benefit linked to the occurrence of a certain corporate event, such as the sale of the issuer's corporate
control</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 28.35pt">There is no compensation or benefit
linked to the occurrence of a corporate event</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.2 - Total compensation of the board of directors, statutory
executive board and fiscal council</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Total compensation for the current fiscal year 2025 - Annual values</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Executive Board</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Audit Committee</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>47</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>4</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>0</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>62</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">No. of Paid Members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>47</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>59</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Annual fixed remuneration</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Salary or pro-labore</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">16.000.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">125.000.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">4.000.000,00 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">145.000.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">300.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">11.000.000,00 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">11.300.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Committee Memberships</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">105.000.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">105.000.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">3.600.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">38.125.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">900.000,00 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">42.625.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Variable remuneration</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Bonus</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Profit sharing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">169.000.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">169.000.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Meeting Attendance</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Commissions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Termination of office</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">700.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">169.000.000,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">169.700.000,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total remuneration</FONT></TD>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>20.600.000,00 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>617.125.000,00 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>4.900.000,00 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>642.625.000,00 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Total compensation for the Fiscal Year in 2024 - Annual values</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Executive Board</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Audit Committee</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>58</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>0</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>74</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">No. of Paid Members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>7,67</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>51,75</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3,83</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>63,25</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Annual fixed remuneration</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Salary or pro-labore</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;10.098.003,33 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;94.904.334,25 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.170.800,00 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;108.173.137,58 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197.920,29 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.394.371,27 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.592.291,56 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Committee Memberships</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;94.822.398,27 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;94.822.398,27 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.394.949,64 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;31.555.752,39 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713.430,00 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;34.664.132,04 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Variable remuneration</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Bonus</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Profit sharing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;121.025.950,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;121.025.950,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Meeting Attendance</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Commissions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Termination of office</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535.939,75 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;123.260.561,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;123.796.500,75 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total remuneration</FONT></TD>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;13.226.813,02 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>471.963.367,18 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.884.230,00 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>489.074.410,19 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>




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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Total remuneration for the Fiscal Year in 2023 - Annual values</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Executive Board</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Audit Committee</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>48</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>0</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>64</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">No. of Paid Members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>6,67</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>50,75</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3,67</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>2,17</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>63,25</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Annual fixed remuneration</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Salary or pro-labore</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">11.532.331,82 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">88.820.829,58 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;2.810.166,67 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;144.619,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">103.307.947,07 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;120.235,18 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;5.180.170,61 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;5.300.405,79 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Committee Memberships</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">61.050.425,74 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">61.050.425,74 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;2.594.774,66 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">27.090.353,02 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;632.287,50 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;32.539,28 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">30.349.954,46 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Variable remuneration</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Bonus</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Profit sharing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">97.304.600,00 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">97.304.600,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Meeting Attendance</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Commissions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Termination of office</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">107.759.366,67 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">107.759.366,67 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total remuneration</FONT></TD>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>14.247.341,66 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>387.205.745,62 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3.442.454,17 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>177.158,28 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>405.072.699,73 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Total compensation for the Fiscal Year on 12/31/2022 - Annual values</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 31%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 14%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Board of Directors</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Executive Board</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Audit Committee</FONT></TD>
    <TD STYLE="width: 13%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Fiscal Council</FONT></TD>
    <TD STYLE="width: 14%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>10,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>50,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>4,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>6,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>70,0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">No. of Paid Members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>5,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>50,3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>4,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3,0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>62,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Annual fixed remuneration</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Salary or pro-labore</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">14.220.986,19 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">75.736.959,17 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">3.260.000,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">431.460,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">93.649.405,36 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">242.937,34 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">4.781.405,75 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">5.024.343,09 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Committee Memberships</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">48.089.033,90 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">48.089.033,90 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">3.448.537,64 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">25.839.071,90 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">733.500,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">97.078,50 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">30.118.188,04 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Variable remuneration</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Bonus</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Profit sharing</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">85.106.050,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">85.106.050,00 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Meeting Attendance</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Commissions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Termination of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">1.399.166,67 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">91.821.350,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">93.220.516,67 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total remuneration</FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>19.311.627,83 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>331.373.870,72 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3.993.500,00 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>528.538,50 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>355.207.537,06 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Total remuneration for the Fiscal Year as of 12/31/2021 - Annual values</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 27%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 14%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Board of Directors</FONT></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Executive Board</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Audit Committee</FONT></TD>
    <TD STYLE="width: 13%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Fiscal Council</FONT></TD>
    <TD STYLE="width: 16%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>12,0 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>50,0 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>5,0 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>6,0 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>73,0 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">No. of Paid Members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>5,6 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>45,2 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3,6 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3,0 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>57,3 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Annual fixed remuneration</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Salary or pro-labore</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">5.526.500,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">76.828.861,70 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">3.192.333,33 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">449.703,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">85.997.398,03 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">415.072,93 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">7.142.244,16 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">1.459,20 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">7.558.776,29 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Committee Memberships</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">57.007.756,70 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">57.007.756,70 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">1.243.462,50 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">25.707.773,31 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">718.275,00 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">101.183,18 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">27.770.693,98 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Variable remuneration</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Bonus</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Profit sharing</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">101.401.104,23 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">101.401.104,23 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Meeting Attendance</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Commissions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other INSS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Termination of office</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;101.401.104,23 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">101.401.104,23 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt">Total remuneration</FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>7.185.035,43 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>369.488.844,32 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>3.912.067,53 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>550.886,18 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>381.136.833,46 </B></FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>8.3. In relation to the variable compensation of the last 03
fiscal years and that foreseen for the current fiscal year of the Board of Directors and the Board of Executive Officers,</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the variable compensation of the
members of the Company's management bodies in the fiscal years 2022, 2023 and 2024, as well as that expected for the fiscal year 2025.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 20%; border-top: black 1.5pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; border-right: black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-left: 4.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt; text-indent: 4.45pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Director</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Audit Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Advice </B></P>
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Fiscal</B></P></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left"><B>the. Body:</B></P>
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">b. Total number of members</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>10,0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>4,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>6,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>70,0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">c. No. of paid members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>5,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,3</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>4,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>3,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>62,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>d. in relation to the Bonus</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i .maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>e. in relation to profit sharing</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i . Maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; width: 20%; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">iv. Value effectively recognized in the result of
    the fiscal year</P>
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 1.45pt; text-align: left; text-indent: 78.05pt">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">176.927.400,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">176.927.400,00</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: left">Note: The number of members of each Body corresponds to the
annual average calculated monthly.</P>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 20%; border-top: black 1.5pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; border-right: black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2023 </B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-left: 4.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt; text-indent: 4.45pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Director</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Audit Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Advice </B></P>
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Fiscal</B></P></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left"><B>the. Body:</B></P>
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">b. Total number of members</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>48,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>5,0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>64,0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">c. No. of paid members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>6,7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>3,7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2,2</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>63,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>d. in relation to the Bonus</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i .maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>e. in relation to profit sharing</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 20%; border-bottom: Black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i . Maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: justify; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">iv. Value effectively recognized in the result of
    the fiscal year</P>
    <P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 0 1.45pt; text-align: left; text-indent: 78.05pt">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">193.289.800,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">193.289.800,00</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: left">Note: The number of members of each Body corresponds to the
annual average calculated monthly.</P>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 20%; border-top: black 1.5pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; border-right: black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2024</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-left: 4.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt; text-indent: 4.45pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Director</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Audit Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Advice </B></P>
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Fiscal</B></P></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left"><B>the. Body:</B></P>
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">b. Total number of members</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>58</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>74</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">c. No. of paid members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7,67</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>51,75</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>3,83</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>63,25</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>d. in relation to the Bonus</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i .maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 20%; border-bottom: Black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>e. in relation to profit sharing</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i . Maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">220.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">237.182.500,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">237.182.500,00</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: left">Note: The number of members of each Body corresponds to the
annual average calculated monthly.</P>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 20%; border-top: black 1.5pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; border-right: black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>2025 (planned)</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-left: 4.5pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt; text-indent: 4.45pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Director</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Audit Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: black 1.5pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Advice </B></P>
    <P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: center; color: white"><B>Fiscal</B></P></TD>
    <TD STYLE="width: 16%; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: black 1.5pt solid; background-color: #D9D9D9">
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left"><B>the. Body:</B></P>
    <P STYLE="font: 7pt/15pt Verdana,sans-serif; margin: 0 0 0 1.45pt; text-align: left">b. Total number of members</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>47</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1.5pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>62</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">c. No. of paid members</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>47</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 0.65pt; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>62</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>d. in relation to the Bonus</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i .maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">9.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5.000.000,00</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 20%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 16%; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>e. in relation to profit sharing</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i . Minimum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i . Maximum amount provided for in the remuneration plan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">298.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">i i i i .amount provided for in the compensation plan, if the targets are achieved</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">250.000.000,00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">250.000.000,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #D9D9D9; padding-left: 1.45pt; text-align: left; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">iv. Value effectively recognized in the result of the fiscal year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-family: Times New Roman,serif; line-height: 15pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based
compensation plan of the Board of Directors and of the Board of Executive Officers, in force in the last fiscal year and scheduled for
the current fiscal year. </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: left"><B>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General
Terms and Conditions</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">We currently have three long-term compensation
plans linked to the performance of the stock market price: the Local Long-Term Incentive Plan, the Global Long-Term Incentive Plan and
the Deferral Plan.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">Directors and non-management employees who have
been nominated by our Board of Directors are eligible for these plans. The Plans have a duration of three years, promoting the commitment
of those eligible to long-term results.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>Local
Long-Term Incentive Plan </B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B>Retention Plans</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">In specific and punctual situations, both managers
and employees may have a retention plan linked to the area or individual, with the objective of retaining it, ensuring the sustainability
of the business and the Bank. Each plan has a specific contract and provides for payment according to the individual's performance and
permanence, observing local and global regulatory resolutions.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>Global
Long-Term Incentive Plans</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><I>(ii.1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
ILP Plans</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">Please refer to the text on the Global ILP Plans,
available in item 8.1, D, above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><I>(ii.2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
Programs</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">The Deferral Programs are applied to Statutory
Officers, employees whose function has a material impact on the institution's risk profile (Material Risk Takers - MRT), in accordance
with the criteria established in the European regulations (CRD-V), in addition to other eligible employees. As part of the Deferral program,
participants receive part of the variable compensation over a period of three years to five years.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">Deferral Programs are renewed and updated each
year. As of December 2024, we had six plans in place: one for each fiscal year 2019, 2020, 2021, 2022, 2023 and 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B><I>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferral
Program</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">Deferral plans are divided into two programs:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.55pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Identified Collective</U>: <I>Statutory and Executive Officers</I>.
Statutory Directors and Executives who assume significant risks for us and are responsible for areas of control. Deferred compensation
is paid 50% in cash, and 50% in company instruments. </FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.55pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Other Employees</U>: Employees with variable compensation above
an established threshold are eligible. Deferred
compensation is paid 50% in cash, and 50% in company instruments.</FONT></P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: left"><B>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date
of approval and responsible body</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.55pt 0 0; text-align: justify">The Long-Term General Incentive Plan, which includes
the deferral plans in force, was approved at the Extraordinary General Meeting on 12/21/2016, according to the proposal approved by the
Board of Directors, at a meeting held on 10/25/2016 and a punctual amendment to clause 7.2, approved on 04/26/2024</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">c.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Maximum number of actions covered </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Calibri,sans-serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top; background-color: red">
    <TD COLSPAN="27" STYLE="border: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white; line-height: 115%"><B>Share-based compensation plan for the current fiscal year (2025)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; background-color: gray; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="13" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; background-color: gray; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #D9D9D9; padding-right: 5.65pt; padding-left: 5.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman,serif">Maximum number of shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;2.184 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;235 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;8.840 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">29.566 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">80.810 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">51.565 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">11.448 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">49.888 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">85.110 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">33.453 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">135.405 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">615.191 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">844.124 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">1.165.041 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -12.65pt 6pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">4.852.342 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="27" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
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    <TD COLSPAN="27" STYLE="border: black 1pt solid; background-color: red; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white; line-height: 115%"><B>Share-based Compensation Plan for the fiscal year ended 12/31/2024</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: gray; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="13" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: gray; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman,serif; background-color: #D9D9D9; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">ILP Global 2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt 5.65pt; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">Maximum number of shares</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">2.184</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">235</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">8.719</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">29.161</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">79.702</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">50.858</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">11.448</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">49.888</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">34.518</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">1.631</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">33.088</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">133.549</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">606.759</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">832.554</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">1.149.073</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -9.5pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 7pt; line-height: 115%">4.852.342</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="27" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="vertical-align: top; background-color: red">
    <TD COLSPAN="27" STYLE="border: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white; line-height: 115%"><B>Share-based Compensation Plan for the fiscal year ended 12/31/2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: gray; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="13" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: gray; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 12pt Times New Roman,serif; border-right: black 1pt solid; background-color: #D9D9D9; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; text-align: justify; line-height: 115%; font-family: Calibri,sans-serif">Maximum number of shares</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">51.483 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">22.896 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">49.888 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">85.110 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">28.478 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">66.146 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">313.766 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">994.832 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">1.219.145 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -8.45pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%">2.814.786 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 6pt -4.65pt 6pt 0.5in; text-align: left; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 8pt; line-height: 115%"><B>- </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="27" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top; background-color: red">
    <TD COLSPAN="27" STYLE="border: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white; line-height: 115%"><B>Share-based Compensation Plan for the fiscal year ended 12/31/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; background-color: gray; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="13" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; background-color: gray; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white; line-height: 115%"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #D9D9D9; padding-right: 5.65pt; padding-left: 5.65pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2019</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2020</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2021</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2022</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">ILP Global 2023</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 8&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 9&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 10&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 11&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 12&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 13&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 14&ordm; Cycle</FONT></TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt 5.65pt; border-right: black 1pt solid; background-color: #D9D9D9; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%">DEFERRAL 15&ordm; Cycle</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding-top: 6pt; padding-right: 5.4pt; text-align: justify">Maximum number of shares</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">51.483</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">22.896</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">49.888</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">38.540</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">54.108</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">233.039</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">672.734</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">1.512.547</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">1.317.393</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt/115% Calibri,sans-serif; padding: 6pt -11.25pt 6pt 0.5in; text-align: center"><FONT STYLE="font-size: 8pt; line-height: 115%">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="27" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/115% Calibri,sans-serif; margin: 6pt 0 6pt 21.3pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri,sans-serif; margin: 6pt 0 6pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>d.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Maximum number of options to be granted </FONT></B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Share-based compensation plan for the current fiscal year (2025)</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 23%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL 14th Cycle</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 6%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Maximum number of options covered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>34.153</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>121.699</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>763.181</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Share-based Compensation Plan for the fiscal year ended 12/31/2024</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 24%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Maximum number of options covered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>46.538</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>34.153</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>121.699</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>763.181</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>



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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Share-based Compensation Plan for the fiscal year ended 12/31/2023</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 21%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Maximum number of options covered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>267.319</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2.459.282</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt; color: white"><B>Stock-based compensation plan for the fiscal year ended 12/31/2022</B></FONT></TD></TR>
  <TR STYLE="background-color: red">
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #7F7F7F; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 19%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD>
    <TD STYLE="width: 6%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 6%; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>ILP Global</B></FONT></TD>
    <TD STYLE="width: 7%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Maximum number of options covered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">* Until February 10 of each of the three fiscal years following the base year, the Company's Board of Directors may change the maximum number of <I>Units</I> per year, increasing in the proportion in which the Company distributes dividends and/or interest on equity to its shareholders, in the amount equivalent to the dividends and/or interest on equity that the participant would be entitled to if it had the <I>&nbsp;Company'</I>s Units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditions
for the acquisition of shares</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 5.65pt 0 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>(i)</I></B></FONT><B><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Global Programs</U></FONT></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">Please refer to the text on Global ILP Plans
available in item 8.1, D, above.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 5.65pt 0 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>(ii)</I></B></FONT><B><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Deferral Programs </U></FONT></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">Deferral 10th Cycle (2019), 11th Cycle (2020),
12th Cycle (2021), 13th Cycle (2022), 14th Cycle (2023) and 15th Cycle (2024): The Plan is part of the current regulatory environment
applicable to us, notably in light of CMN Resolution No. 5,177, of September 26, 2024 (&quot;Resolution No. 5177/24&quot;), which requires
financial institutions to comply with certain requirements for deferred payment in the future of a portion of the Variable Compensation
due to their managers and other employees, taking into account long-term sustainable financial bases and adjustments in future payments
due to the risks assumed and fluctuations in the cost of capital.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
for setting the acquisition or exercise price</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">The cycles have a duration of three years, covering
three fiscal years, promoting a commitment of the Executive Directors to long-term results.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferral
Programs (10th, 11th, 12th, 13th, 14th and 15th cycles)</I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">The total amount of referenced Instruments is
settled in three or five installments and allocated equally to the three or five fiscal years following the base year.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>g. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
for setting the vesting or exercise period</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>(i)</I></B></FONT><B><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Global Programs</U></FONT></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">Global ILP plans are restricted to the transfer
of shares for one year (<I>lockup</I>) after they are received.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
Programs </U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">10th, 11th, 12th, 13th, 14th and 15th Deferral
Cycles: the shares/options received in these plans may not be sold during a period of one year from the date of receipt of each batch
of shares/options (<I>lockup</I>).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>h. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement
method</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">Payroll bonus</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">10th, 11th, 12th, 13th, 14th and 15th Deferral
Cycles: is carried out directly in Instruments (shares and/or options)</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
on the transfer of shares</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">Global ILP Plans will be paid in payroll respecting
the initially defined restriction period.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
Programs </U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">10th, 11th, 12th, 13th, 14th and 15th Deferral
Cycles: the shares/options received under this plan may not be sold during a period of one year from the date of receipt of each lot of
shares/options (<I>lockup</I>).</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>j.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
and events that, when verified, will cause the suspension, alteration or extinction of the plan</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">Changes to the plan may happen for legal or regulatory
reasons.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: left"><B><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
Programs </U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">The Plans may be extinguished, suspended or amended,
at any time, by the Board of Directors, and in the event of suspension or extinction, the rights of participants who already have bonus
installments referenced in Instruments receivable shall be respected, in the following provisions:</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In order to preserve the objectives of the plan, the total number
of <I>shares/options</I> must be adjusted up or down when the following occur: stock split, reverse split or bonus of shares, merger,
incorporation, spin-off, other procedures of similar nature and relevant significance; and</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The Human Resources Department, under the supervision of the Executive
Committee, will carry out the aforementioned quantitative adjustments using the methodologies used by B3 to make similar adjustments in
its stock markets.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><I>(ii.1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferral
&#8211; 10th, 11th, 12th, 13th, 14th and 15&deg; Cycles:</U></I></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">The Plan is subject to the <I>Malus</I> and/or
<I>Clawback clauses</I>, i.e., the Company's Board of Directors, on the recommendation of the Compensation Committee, may approve the
reduction and/or return of up to 100% of the value of each participant in the cases previously approved by Internal Governance.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">Between the fiscal years 2016 and 2021, the deferral
plan of the Executive Committee and other executives chosen by the Executive Committee had the payment of the last installment (in the
case of the deferral in 3 years) or the last three installments (in the case of the deferral in 5 years), also impacted by the result
of the Santander Mundial Group, with a weight of 30%.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">As of the 2022 fiscal year, only the deferral
of the Chief Executive Officer maintains the impact on the last three installments (deferral in 5 years), subject to the achievement of
the Santander Mundial Group's result indicators, with a weight of 30%.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B>k.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effects
of the withdrawal of the administrator from the bodies of the issuer on his rights under the share-based compensation plan</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify"><B><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Programs</U></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">In the event of retirement, due to dismissal
without cause, leave, permanent disability or death, the right to deliver the shares will remain as if none of the aforementioned circumstances
had occurred, except for the following changes:</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In the event of death, this right will pass to the beneficiary's
successors;</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The number of shares to be delivered will be the result of multiplying
the maximum number of shares established by the quotient resulting from the division between the number of days elapsed between the date
of launch of the plan and the date on which death, retirement, pre-retirement, dismissal, write-off or other circumstance that determines
the application of this rule occurs, both inclusive, by the number of days the plan is in force; and</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 5.65pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">In case of resignation, the participant loses the right to the plan.</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0 5.65pt 0 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B><I>(ii)</I></B></FONT><B><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Deferral Programs </U></FONT></I></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">The plan will be terminated, in advance and by
operation of law, and the participant will lose the right to participate in the plan and to receive future installments, in the event
of dismissal due to resignation, resignation, due to dismissal for just cause under the terms of article 482 of the Consolidation of Labor
Laws or dismissal from a statutory position by unilateral decision of the Company.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">In the event of dismissal of a participant due
to termination of the employment contract due to acts performed by the Company, pursuant to article 483 of the Consolidation of Labor
Laws, due to dismissal without cause, due to retirement or in the event of death, the participant will receive at the time of making payments
to the other participants in the respective cycle, the amount of the portion of the bonus referenced in Instruments applicable to that
participant. In the event of death, the delivery will be made to the participant's successors. In the event of permanent disability of
the participant, as evidenced by two medical reports (public and private institution), the participant will receive, at the time of making
payments to the other participants of the respective cycle, the amount of the portion of the bonus referenced in Instruments applicable
to that participant.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.65pt 0 0; text-align: justify">In the event of suspension of the employment
contract due to illness or accident at work, the participant will receive, at the time of making payments to the other participants in
the respective cycle, the amount of the portion of the bonus referenced in Instruments applicable to that participant.</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regarding
the share-based compensation in the form of stock options recognized in the results of the last 3 fiscal years and that provided for the
current fiscal year, of the board of directors and the executive board of the bylaws, prepare a table with the following content:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Body</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Total number of members</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>number of paid members</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>d.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Weighted average strike price of each
of the following option groups:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>open at the beginning of the fiscal
year</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>ii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>lost and expired during the fiscal year</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>iii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>exercised during the fiscal year</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>iv.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>potential dilution in case of exercise
of all open options</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the expected remuneration for
the current year of 2025:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>8</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0.702 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0.90 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0,808 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 1,147</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 16.03</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>EUR 20.11</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 1,016 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022'</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>DEFERRAL 14th Cycle</B></P></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>47</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>47</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>46.538</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>34.153</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>81.461</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>40.238</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.766.669</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>46.538</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>34.153</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>81.461</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>40.238</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.766.669</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.90</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,147</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base
year 2024:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7,67</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>15.284</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.645</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.90</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,147</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
  </TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>DEFERRAL 14th Cycle</B></P></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>58</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>51,75</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>46.538</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>102.459</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>81.461</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>40.238</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.932.080</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>102.459</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>81.461</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>40.238</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>7.362</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1.932.080</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>881</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>165.411</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.90</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,147</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base
year 2023:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>11</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>6,67</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.90</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>DEFERRAL 14th Cycle</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>48</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,75</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>267.319</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2.459.282</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>267.319</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.90</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base
year 2022:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 4pt; border-right: Black 1pt solid; border-left: Black 1pt solid">

    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P>
</DIV></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>DEFERRAL 14th Cycle</B></P></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>10</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>5</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>269.148</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0.702 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0.90 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 0,808 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 16.03 </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>EUR 20.11</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;EUR 1,016 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0; text-align: center"><B>DEFERRAL 14th Cycle</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2027</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2030</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2032</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2033</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>2031</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>There is no</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>191.577</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0.702</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>EUR </B></P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center"><B>0,90</B></P></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 0,808</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 16.03</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 20.11</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>EUR 1,016</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Potential dilution in the event of the exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum dilution.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
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<P STYLE="font: 10pt/10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.6. In relation to each grant of stock options carried
out in the last 3 fiscal years and scheduled for the current fiscal year, the board of directors and the executive board of directors
shall prepare a table with the following content:</B></P>

<P STYLE="font: 10pt/10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">body</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>b.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Total number of members</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>c.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">number of paid members</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>d.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Grant date</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>e.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Number of options granted</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>f.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Deadline for options to become exercisable</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>g.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Maximum period for exercising options </FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>h.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Restriction period on the transfer of shares received as a result
of the exercise of the options</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>i.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Fair value of options on grant date</FONT></B></P>

<P STYLE="font: 11pt/10pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>j.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Multiplication of the number of shares granted by the fair value
of the options on the grant date</FONT></B></P>

<P STYLE="font: 10pt/10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the expected remuneration for
the current year of 2025:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022'</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>11</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>7,67</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">15.284</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">1.645</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2027</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2033</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2031</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.702</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.90</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0,808</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,147</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 16.03</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 20.11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,016</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 245.003</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 33.081</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
</TABLE>

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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022'</B></P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>58</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>51,75</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2020</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2021</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2022</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">46.438</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">34.153</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">81.461</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">40.238</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">7.362</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">1.766.669</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2027</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2033</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2031</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">0</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">68.306</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">81.461</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">40.238</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">7.362</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">1.766.669</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.702</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.90</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0,808</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center">EUR 1,147</P></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 16.03</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 20.11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 1,016</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 32.599 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 30.738 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 154.794 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 93.436 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 645.015 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 148.050 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 1,794,936 </FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt/10pt Verdana,sans-serif; margin: 6pt 0; text-align: justify">The following tables show the remuneration for the base
year 2024:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>11</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="7" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>7,67</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD COLSPAN="7" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">146.629</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">40.238</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">1.645</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2027</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2033</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2031</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">146.629</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">40.238</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">65.168</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.702</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.90</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0,808</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,147</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 16.03</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 20.11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,016</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 93.436</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 245.003 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 33.081</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD COLSPAN="3" ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Executive Board</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Verdana,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2023</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 14th Cycle</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="10" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>58</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="10" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>51,75</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD COLSPAN="10" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2020</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2021</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2022</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">46.438</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">34.153</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">121.699</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">15.284</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">7.362</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">1.766.669</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2026</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2027</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2033</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2031</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">0</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">68.306</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">267.319</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">15.284</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">55.522</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.702</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.90</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0,808</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 1,147</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 16.03</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 20.11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 1,016</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 32.599 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 30.738 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 154.794 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 242.931 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 245.003</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 148.050 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;EUR 1,794,936 </FONT></TD></TR>
  <TR>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
  </TABLE>



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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base year
2023:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 29%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP GLOBAL 2022</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>11</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>6,67</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2022</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">269.148</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">269.148</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.702</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.90</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0,808</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,016</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 188.942</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 32%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Calibri,sans-serif; margin: 0; text-align: center"><B>ILP GLOBAL 2022</B></P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>48</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>50,75</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2022</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">68.306</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">267.319</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2032</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">68.306</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">191.577</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">267.319</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.702</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0.90</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 0,808</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 1,016</FONT></TD></TR>

<TR>
    <TD STYLE="width: 32%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 61.475</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 154.794</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 271.596</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base year
2022:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 21%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>10</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>5</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2029</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">2030</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">There is no</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>

<TR>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.702</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.90</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0,808</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  </TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 21%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of members</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>50</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>No. of paid members</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>50,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Grant of stock options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>362.225</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>191.577</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2025</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2030</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2029</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>2030</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">Weighted average strike price:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>There is no</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(a) Options open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>269.148</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>68.306</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>191.577</B></FONT></TD></TR>

<TR>
    <TD STYLE="width: 21%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(b) Options lost during the fiscal year</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>93.077</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(c) Options exercised during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">(d) Options expired during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Fair value of options at grant date</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.702</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0.90</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 0,808</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>Multiplication of the number of shares granted by the fair value of the options on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 188.942</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 61.475</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt">EUR 154.794</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>8.7. Regarding the open options of the Board of Directors and
the Board of Executive Officers at the end of the last fiscal year:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">As of December 31, 2024, the members of the Company's Executive
Board and Board of Directors had 418,258 open options related to Global ILP plans and 1,941,270 open options related to the Deferral Plan
paid in Global stock options.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 26%; border: Black 1pt solid; font: 12pt Times New Roman,serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 26%; border: Black 1pt solid; font: 12pt Times New Roman,serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Officers</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman,serif; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total number of members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 11pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 11pt">58</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman,serif; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>7,67</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 9pt"><B>51,75</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Options not yet exercisable</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Quantity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16.929</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 10pt">2.261.908</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Date on which the options will become exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">From Feb/2028</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">From Feb/2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10 years</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7 years</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1 year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1 year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of options on the last day of the financial year</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center">EUR 16,03</P>
    <P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: center">EUR 20,11</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$ 6,961</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Exercisable options</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Quantity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">80.691</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Date on which the options became exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2024</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum period for exercising options</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Feb/2029</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1 year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Weighted average strike price</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 4.25</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of options on the last day of the financial year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">EUR 4.46</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of total options on the last day of the financial year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">626.624</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regarding
the options exercised and shares delivered related to the share-based compensation of the Board of Directors and the Executive Board of
Executive Officers, in the last 3 fiscal years, prepare a table with the following content:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Body</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Total number of members</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>number of paid members</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>d.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Number of shares</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>e.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>weighted average strike price</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Calibri,sans-serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>f.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Weighted average market price of shares for options exercised</FONT></B></P>

<P STYLE="font: 11pt/115% Calibri,sans-serif; margin: 0 0 6pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>g.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Multiplying the total options exercised by the difference between
the weighted average strike price and the weighted average market price of the shares for the options exercised</FONT></B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">Our option plans are based on Global shares, securities that
are not traded on B3, which is why the settlement is carried out in cash, through gain by difference (market price of the share x strike
price) or through repurchase of the options by Santander, in the case of the Deferral plan.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">In 2023, the options of the ILP Global 2019 plan became exercisable,
but we did not have options exercised by the Administrators in the exercise.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">In 2024, the options of the ILP Global 2020 plan also became
exercisable and we had 68,306 options exercised by the Executive Directors, at an average price of EUR 4.25/share, with cash settlement
for difference (market price x strike price).</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.9 Share-based remuneration, to be paid to beneficiaries</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>Regarding the share-based compensation, in the form of shares
to be delivered directly to the beneficiaries, recognized in the results of the last 3 fiscal years and that provided for the current
fiscal year, of the board of directors and the statutory executive board, prepare a table with the following content:</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. Body</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. Total number of members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. Number of remunerated members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>d. potential dilution in case of granting of all shares to
beneficiaries</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">According to the tables in items 8.5 and 8.6 above.</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.10 Grant of shares</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>In relation to each grant of shares carried out in the last
3 fiscal years and foreseen for the current fiscal year, the board of directors and the board of executive officers shall prepare a table
with the following content:</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. Body</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. Total number of members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. Number of remunerated members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>d. Grant date</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>e. Number of shares granted</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>f. maximum deadline for delivery of shares</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>g. Period of restriction on the transfer of shares</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>h. fair value of the shares on the date of grant</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>I. Multiplication of the number of shares granted by the fair
value of the shares on the date of grant</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the expected remuneration for the current
year of 2025:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
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    <TD COLSPAN="13" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>Board of Directors</B></P>
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2023</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 9th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 10th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 11th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 12th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 13th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 14th Cycle </B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 15th Cycle </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>11</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>8</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Feb/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Number of shares granted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2.184</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">235</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">29.566</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">26.937</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">12.891</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">12.891</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1 year</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.67</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 2.69</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 16.03</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 20.11</FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">24,76</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">24,44</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364;35,010</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364;4,726</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 732.059</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 666.952</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 315.062</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 315.062</FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2018</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2019</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 9th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 10th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 11th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 12th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 13th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 14th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 15th Cycle </B></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>47</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
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    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>47</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Feb/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Number of shares granted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">49.888</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">30.254</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">4.264</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1.631</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">3.829</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">286.133</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">265.696</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">288.707</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2.762.152</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD COLSPAN="13" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1 year</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.67</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 2.69</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 16.03</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 20.11</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 24,76</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">24,44</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364; 154,852</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364; 93,426</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364;68,352</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&#8364;32,799</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 94.802</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 7,084,664</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$6,578,638</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R 7.055.987</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$67,507,000</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base year
2024:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>Board of Directors</B></P>
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2023</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 9th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 10th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 11th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 12th Cycle </B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 13th Cycle </B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 14th Cycle </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>11</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>&nbsp;7,67</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2024</FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Feb/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Number of shares granted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2.184</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">235</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">6.269</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">8.404</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">14.326</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">30.684</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">25.607</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">73.529</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center">1 year</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.67</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 2.69</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 3.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 16.03</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 20.11</FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 29,54</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 30,60</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 35.010</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">EUR 4.726</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 185.175</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 248.256</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$423.195</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$906,412</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 756.430</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 2.250.000</FONT></TD></TR>
  </TABLE>



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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 22%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif; width: 8%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">3,67</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2,685</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">3,104</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">3,088</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; width: 7%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif; width: 7%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">20,11</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2018</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2019</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 6%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; width: 8%"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt; color: white">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>Executive Board</B></P>
    <P STYLE="font: 6pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2020</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2022'</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>ILP GLOBAL 2023</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 9th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 10th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 11th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 12th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 13th Cycle </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>DEFERRAL 14th Cycle </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>58</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt"><B>51,75</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2020</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">2024</FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Feb/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Number of shares granted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">11.448</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">49.888</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">30.254</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">4.264</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1.631</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">3.172</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">3.640</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">169.686</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">296.897</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">271.952</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1.539.117</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/27</FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Mar/24</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD COLSPAN="12" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">1 year</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 3.67</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 2.69</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 3.10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 3.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 16.03</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;EUR 20.11</FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 29,54</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 30,60</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 6pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;&#8364;30,738 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;&#8364; 154,852 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;&#8364; 93,426 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;&#8364;68,352 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;&#8364;32,799 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;R$ 93.707 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">&nbsp;R$ 107.521 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$5,012,535 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$8.770.346 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$8,033,474 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 6pt">R$ 47,096,980 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base year
2023:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP Global CRDIV 2015</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>6th Cycle Deferral</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 7th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 8th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 9th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 10th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 11th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 12th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 13th Cycle</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>10</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>5</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD COLSPAN="9" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Feb/23</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of shares granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>51.483</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD>
    <TD COLSPAN="9" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1 year</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$18,56 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&euro;3,67 </B></FONT></TD>
    <TD COLSPAN="9" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$ 28,92</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the shares on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&euro;188,943 </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>

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  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP Global CRDIV 2015</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>6th Cycle Deferral</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 7th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 8th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 9th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 10th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 11th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 12th Cycle</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 13th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>55</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>55</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD COLSPAN="14" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Feb/23</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of shares granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>51.483</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>39.065</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>27.422</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>172.520</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>278.686</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>457.121</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>1.856.898 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD>
    <TD COLSPAN="14" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1 year</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$18,56 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&euro;3.67 </B></FONT></TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$ 28,92</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the shares on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>&euro; 188,943 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>&nbsp;- </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$1,250,073 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$877.520 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$5,520,644 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$8,917,951 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$14,627,873 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt"><B>R$59,420,747 </B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">The following tables show the remuneration for the base year
2022:</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP Global CRDIV 2015</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>6th Cycle Deferral</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 7th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 8th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 9th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 10th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 11th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 12th Cycle</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 13th Cycle</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>9</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>6</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD COLSPAN="9" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Feb/22</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of shares granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>51.483</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD>
    <TD COLSPAN="9" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/22</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1 year</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">&nbsp;R$ 18,56 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&#8364;3.67 </B></FONT></TD>
    <TD COLSPAN="9" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$ 32,00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the shares on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;&#8364; 188,943 </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>
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    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP Global CRDIV 2015</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>ILP DTA 2019</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>6th Cycle Deferral</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 7th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 8th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 9th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 10th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 11th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 12th Cycle</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 7pt"><B>DEFERRAL 13th Cycle</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>50,3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Grant of shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD COLSPAN="14" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Feb/22</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Number of shares granted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>51.483</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>43.403</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>37.072</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>148.539</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>274.914</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>275.112</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>1.938.289</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Maximum deadline for delivery of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/23</FONT></TD>
    <TD COLSPAN="14" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Mar/22</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Period of restriction on the transfer of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>1 year</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Fair value of shares on grant date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$18,56 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>&nbsp;&#8364;3.67 </B></FONT></TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">R$ 32,00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Multiplication of the number of shares granted by the fair value of the shares on the grant date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#8364;188,943 </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$1,388,889 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$1.186.298 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$4.753.259 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$8.797.250 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$8,803,591 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>R$62,025,250 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.11 Shares delivered</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>In relation to the shares delivered related to the share-based
compensation of the board of directors and the statutory executive board, in the last 3 fiscal years, prepare a table with the following
content:</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>a. Body</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>b. Total number of members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>c. Number of remunerated members</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>d. Number of shares</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>e. weighted average acquisition price</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>f. Weighted average market price of the shares acquired</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify"><B>g. multiply the total shares acquired by the difference between
the weighted average acquisition price and the weighted average market price of the acquired shares</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #E7E6E6">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">a. Body</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Executive Board</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Board of Directors</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">b. Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">58,00</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">11,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">c. Number of remunerated members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">51,75</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">7,67</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">d. Number of shares (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">2.559.282</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">31.782</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">e. weighted average acquisition price</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 24,49</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 24,67</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">f. Weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 26,30</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 26,30</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">g. multiplying the total shares acquired by the difference between the weighted average purchase price and the weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 4.632.300</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 51.805</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #E7E6E6">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">a. Body</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Executive Board</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Board of Directors</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">b. Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">48,00</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">11,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">c. Number of remunerated members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">50,75</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">6,67</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">d. Number of shares (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">1.747.182</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">125.072</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">e. weighted average acquisition price</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">30,24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">29,54</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">f. Weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,60</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,60</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">g. multiplying the total shares acquired by the difference between the weighted average purchase price and the weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 2,862,544</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 117,567.68</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #E7E6E6">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">a. Body</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Executive Board</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Board of Directors</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">b. Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">50,00</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">10,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">c. Number of remunerated members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">50,25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">5,00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">d. Number of shares (net)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">1.701.531</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">145.787</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">e. weighted average acquisition price</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,92</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,92</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">f. Weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,33</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">28,33</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">g. multiplying the total shares acquired by the difference between the weighted average purchase price and the weighted average market price of the shares acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 1,003,903</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">R$ 86,014.33</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brief description
of the information necessary to understand the data disclosed in paragraphs 8.5 to 8.11, such as an explanation of the pricing method
for the value of shares and options:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 13pt/15pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.1pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><I>A.</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Global Program</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt/15pt Calibri,sans-serif; margin: 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><B>a.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Pricing model</FONT></B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify">The pricing model is based on the Local Volatility
model or Dupire model, which allows simultaneous calibration of all quoted European options. In addition to this model there is an extension
to deal with uncertainty in dividends, where part of the dividend amount is considered confirmed, and the rest is linked to the performance
of the underlying. This extended model is integrated into a PDE engine, which numerically solves the corresponding stochastic differential
equation to calculate the expected value of the product.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 5.1pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Data and assumptions used in the pricing model, including the weighted
average share price, strike price, expected volatility, option lifetime, expected dividends, and the risk-free interest rate</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The weighted average share price (and strike price) is &#8364;3.104
based on the 15-day weighted average between 01/07/2022 and 27/01/2022</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The expected volatility used was 33.80</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Options expire on 01/02/2030</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Expected dividends range from approximately 6.6 cents in the short
term (2022) to approximately 5.75 cents per share per year in the long term (2030)</FONT></P>

<P STYLE="font: 12pt/15pt Times New Roman,serif; margin: 0 0 3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">The discount curve used gives a discount of 0.96 for 2030</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 0 3pt; text-align: justify">The exercise price, in all cycles and if the objectives
established in the regulations are achieved, will be the market price on the exercise date.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 5.25pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">c.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Method used and assumptions assumed to incorporate the expected
effects of early exercise</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify">Not applicable, as the model does not allow for
early exercise.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">d.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">How to determine expected volatility</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify">Estimated based on historical volatility for the
respective term.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 12pt/15pt Times New Roman,serif; margin: 0 5.05pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt">e.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Whether any other characteristics of the option have been incorporated
into the measurement of its fair value</FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify">It does not apply, given that no other characteristics
of the option have been incorporated in the measurement of its fair value.</P>


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<P STYLE="font: bold 13pt/15pt Times New Roman,serif; margin: 0; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt; letter-spacing: -0.1pt"><I>B.</I></FONT><I><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT></I> <FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><U>Local Program</U></FONT></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0 5.8pt 0 0; text-align: justify">Not applicable to Local and Deferral Long-Term
Incentive Plans (ILP), since they have as their object the payment, in instruments (shares/options), of part of the Variable Compensation
due by the Company to the participants, under the terms of its Compensation Policy.</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.13. Inform the number of shares, quotas and other securities
convertible into shares or quotas, issued, in Brazil or abroad, by the issuer, its direct or indirect controllers, controlled companies
or companies under common control, which are held by members of the board of directors, the statutory executive board or the fiscal council,
grouped by body.</B></P>

<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Company Name: Banco Santander (Brasil) S.A.</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Closing Balance</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Securities/Derivatives</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Characteristics of Bonds</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Quantity</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% of participation</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Same Species/Class</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 30%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Ordinary</FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2</FONT></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Preferred</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Units</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">676.203</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Company Name: Banco Santander (Brasil) S.A.</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of directors</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Closing Balance</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Securities/Derivatives</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Characteristics of Bonds</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Quantity</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>% of participation</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Same Species/Class</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Ordinary</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.421</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Preferred</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.423</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Actions</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Units</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.892.167</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0,00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 11.05pt 0 0 35.4pt; text-align: justify; text-indent: 35.4pt">Base date: 31.12.2024</P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 70.8pt; text-align: justify">(*) includes the balance of equivalent persons</P>


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<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left"><B>8.14 Pension plans in force granted to members of the Board of
Directors and statutory officers.</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">We currently have three plan with defined contribution.
SantanderPrevi, a plan that as of July 2018 is closed to new adhesions. As of January 2018, the SBPrev Pension Plan, managed by Zurich
Santander Brasil Seguros e Previd&ecirc;ncia, was implemented for new employees/managers and new members. As of March 2018, the SantanderPlus
Pension Plan was implemented, which was replaced in January 2024 by the Santander S&oacute;cios plan with similar characteristics, which,
like SantanderPrevi and SBPrev, provides future supplementary income, this plan is restricted to the group of executives who are part
of the &quot;Santander S&oacute;cios&quot; Collective.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Participation in the plans is optional and the contribution
is annual, limited to 12 salaries, with a counterpart of 100% to 150% made by Santander Brasil, according to the time in the plan. The
monthly contribution of the participants in the two plans is the equivalent of 2% of the applicable salary, which is limited to 13 PU's.
When the applicable salary is greater than 13 PU's, the participant may add a percentage of 2% to 9% on the portion that exceeds the applicable
salary. (13 UP's = R$ 8,955.96 - base set/24). On the contribution made by the participant, a contribution amount made by the Sponsor
(called matching or counterpart) will be added, which corresponds to 100% to 150% only on the normal contribution, depending on the time
of connection to the plan.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In the table below, we provide the amounts contributed to
supplementary pension plans in 2024.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: #BFBFBF">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>TOTAL</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Statutory Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 48%; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; border-right: Black 1.5pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Total number of members</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 26%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1.5pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">54</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">No. of members</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">2</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">58</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Plan Name</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Santanderprevi Retirement Plan + SBPREV</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Santanderprevi Retirement Plan + SBPREV</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Number of managers who meet the conditions to retire</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Conditions for early retirement</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Updated cumulative value of contributions accumulated up to the end of the last fiscal year, minus the portion related to contributions made directly by managers</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">4.130.141</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">325.071.549</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1.5pt solid; border-left: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Total accumulated amount of contributions made during the last fiscal year, less the portion related to contributions made directly by managers</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">89.391.569</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 9pt">Early redemption possibility and conditions</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1.5pt solid; border-left: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif; line-height: 12pt"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">Not applicable</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Verdana,sans-serif; margin: 0; text-align: justify">The accumulated amount on December 31, 2024 comprises the
balance of the amounts contributed even if redeemed up to that date.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.15 Maximum, minimum and average individual compensation
of the Board of Directors, the Board of Executive Officers and the Fiscal Council.</B></P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 8.3pt; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: gainsboro">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Executive Board</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Fiscal Council</B></FONT></TD></TR>
  <TR STYLE="background-color: gainsboro">
    <TD STYLE="width: 24%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2024</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2023</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2022</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2024</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2023</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2022</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2024</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2023</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">58,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">48,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">50,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">10,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6,0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>No. of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">51,75</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">50,75</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">50,3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7,7</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6,67</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">5,0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3,0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Highest remuneration amount (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">37.258.198,61</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">30.554.700,67</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">21.122.291,48</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.875.920,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.744.600,14</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.559.693,20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">71.910,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">176.179,50</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Lowest remuneration value (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.731.101,03</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.651.048,90</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.407.487,32</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.095.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.020.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">805.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">176.179,50</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Average value of remuneration (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">8.510.292,07</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.095.869,80</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.080.294,50</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1,412,851.74</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.747.885,05</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.014.657,47</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">66.747,23</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">176.179,50</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Charges of the highest remuneration (Reais)</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.865.756,82</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">3.499.850,01</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">1.593.625,01</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">647.082,00</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">841.387,16</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">2.680.162,64</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">16.179,75</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.359,50</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: gainsboro; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Charges of the lowest remuneration (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">385.216,99</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">292.800,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">248.880,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">246.375,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">229.500,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">181.125,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">32.359,50</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 8.3pt; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0 0 0 8.3pt; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: gainsboro">
    <TD COLSPAN="2" STYLE="border: black 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>Board of Directors / Board of Executive Officers / Fiscal Council</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 12%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt Calibri,sans-serif; background-color: gainsboro; padding-right: -0.65pt; padding-left: 0.35pt; text-align: left"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2024</B></FONT></TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid; border-right: black 1pt solid">
    <P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 0.15in; text-align: left; text-indent: -9.35pt"><FONT STYLE="font-family: Arial,sans-serif; font-size: 8pt">(i)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">The value of the lowest individual compensation does not consider
    members who have not performed their duties in the 12-month period of the fiscal year in question; and</FONT></P>
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0 0 0 0.15in; text-align: left; text-indent: -9.35pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT>
    <FONT STYLE="font-family: Verdana,sans-serif">The values do not consider social charges.</FONT></P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt Calibri,sans-serif; background-color: gainsboro; padding-right: -0.65pt; padding-left: 0.35pt; text-align: left"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2023</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 0.15in; text-align: left; text-indent: -9.35pt"><FONT STYLE="font-family: Arial,sans-serif; font-size: 8pt">(iii)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">The value of the lowest individual compensation does not consider
    members who have not performed their duties in the 12-month period of the fiscal year in question; and</FONT></P>
    <P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 12.6pt; text-align: left; text-indent: -11.1pt"><FONT STYLE="font-family: Arial,sans-serif; font-size: 8pt">(i)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">The values do not consider social charges.</FONT></P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 11pt Calibri,sans-serif; background-color: gainsboro; padding-right: -0.65pt; padding-left: 0.35pt; text-align: left"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt"><B>31/12/2022</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Calibri,sans-serif; margin: 0 0 0 0.15in; text-align: left; text-indent: -9.35pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT>
    <FONT STYLE="font-family: Verdana,sans-serif">The value of the lowest individual compensation does not consider members who have not performed
    their duties in the 12-month period of the fiscal year in question; and</FONT></P>
    <P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 0.15in; text-align: left; text-indent: -9.35pt"><FONT STYLE="font-family: Arial,sans-serif; font-size: 8pt">(i)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">The values do not consider social charges.</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.16. Describe contractual arrangements, insurance policies
or other instruments that structure compensation or indemnity mechanisms for managers in the event of removal from office or retirement,
indicating the financial consequences for the issuer</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Most of the managers have entered into a garden leave agreement
with us, which stipulates that the executives will be obliged for a period of six months after the termination not to engage in any professional
activity in any other company or financial institution, upon payment by us of a consideration. This obligation will apply whenever the
executive dismissal is voluntary and, in the event of involuntary dismissal, it will be at our discretion to pay such consideration. The
counterpart corresponds to up to 180 days of the executive's fixed monthly salary, as compensation.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">We have a D&amp;O (Directors &amp; Officers) Liability insurance
policy, renewed annually, with the objective of guaranteeing its directors and officers the payment of indemnities arising from claims
that require compensation for damages caused to third parties or to us by virtue of the exercise of their functions. The total amount
of insurance premiums paid for the term 07/01/2024 to 07/01/2025 was R$ 2,743,525.322 and the corresponding amount for the remainder of
the year 2025 is not yet fixed, only when the next renewal is made.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">In accordance with the approval of our board of directors
at the meeting held on December 23, 2009, we indemnify our directors, executive officers and members of the Audit Committee in actions
related to the positions held by them, exclusively for procedural or administrative costs and attorneys' fees, except in cases of serious
negligence or willful misconduct and/or abuse of power and/or in violation of the Bylaws and our internal rules. This indemnity letter
was also issued to the members of the Audit Committee and the compensation committee and reflects the terms of the D&amp;O Liability insurance
policy mentioned in the preceding paragraph.</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">There are no contractual arrangements, insurance policies
or other instruments that structure compensation or indemnity mechanisms for managers in the event of removal from office or retirement.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.17. In relation to the last 3 fiscal years and the
forecast for the current fiscal year, indicate the percentage of the total compensation of each body recognized in the issuer's income
referring to members of the board of directors, the statutory executive board or the fiscal council that are related parties to the controlling
shareholders, direct or indirect, as defined by the accounting rules that deal with this matter.</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">Not applicable</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.18. In relation to the last 3 fiscal years and the
forecast for the current fiscal year, indicate the amounts recognized in the issuer's income as compensation for members of the board
of directors, the statutory executive board or the fiscal council, grouped by body, for any reason other than the function they occupy,
such as commissions and consulting or advisory services provided</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify">It does not apply, given that there is no amount recognized
in the result as compensation received by our members of the Board of Directors, the Board of Executive Officers or the Fiscal Council,
in the last three fiscal years, other than due to the position they hold.</P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.19 In relation to the last 3 fiscal years and the forecast
for the current fiscal year, indicate the amounts recognized in the income of direct or indirect controlling shareholders of companies
under common control and subsidiaries of the issuer, such as compensation of members of the board of directors, of the board of executive
officers or of the fiscal council of the issuer, grouped by body, specifying on what basis such values were assigned to such individuals</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 32%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Year 2024</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Statutory Board of Directors</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 12.2pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: -1.8pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Direct and indirect controllers</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">6.974.783 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">120.600 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">7.095.383 EUR</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Issuer's subsidiaries</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Companies under common control</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 32%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Year 2023</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Statutory Board of Directors</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 12.2pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: -1.8pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Direct and indirect controllers</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.698.268 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39.600 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">11.737.868 EUR</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Issuer's subsidiaries</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Companies under common control</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="background-color: red">
    <TD STYLE="width: 32%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Year 2022</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Statutory Board of Directors</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 12.2pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: -1.8pt; text-align: center"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt; color: white"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Direct and indirect controllers</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.220.210 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">39.600 EUR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">19.259.810 EUR</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Issuer's subsidiaries</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">Companies under common control</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 8pt">0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 8pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>8.20. Provide other information that the issuer deems
relevant:</B></P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: justify">There is no other information that we consider relevant.</P>


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<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">EXHIBIT VI</P>

<P STYLE="color: red; font: bold 10pt/16pt Verdana,sans-serif; margin: 0; text-align: center">COMPARATIVE TABLE FOR THE PROPOSAL TO AMEND
THE COMPANY'S BYLAWS</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">(Pursuant to article 12, CVM Resolution
81/21)</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Verdana,sans-serif; margin: 0; text-align: left">Below is a comparative table between the version currently in force
and the proposed changes to the Company's Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top; background-color: #BFBFBF">
    <TD STYLE="width: 49%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Current wording</B></FONT></TD>
    <TD STYLE="width: 51%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Proposed amendment</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Article 30. </B>The company will have an Audit Committee comprising at least 3 (three) and at the most 6 (six) members appointed by the Board of Directors, including persons, members or otherwise of the Board of Directors who meet the legal and regulatory requirements for exercising the position, including the requisites that ensure their independence, one of which is proven knowledge of the fields of accounting and audit, with a term of office of 1 (one) year, extending to the date of the investiture of the substitute members and being allowed the reappointment for up to 4 (four) consecutive reelections permitted under applicable legislation.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Article 30. </B>The company will have an Audit Committee comprising at least 3 (three) and at the most 6 (six) members appointed by the Board of Directors, including persons, members or otherwise of the Board of Directors who meet the legal and regulatory requirements for exercising the position, including the requisites that ensure their independence, one of which is proven knowledge of the fields of accounting and audit, with a term of office of 1 (one) year, extending to the date of the investiture of the substitute members and being allowed the reappointment for up to <FONT STYLE="text-decoration: underline double; color: #0070C0">5 (five) consecutive</FONT> <FONT STYLE="color: red"><STRIKE>4 (four) consecutive</STRIKE></FONT> reelections permitted under applicable legislation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Justification</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">It is proposed to amend the <I>caput </I>of article 30 of the Company's Bylaws to reflect the provisions of CMN Resolution 4910/22 regarding the term of office of the Audit Committee of Financial Institutions.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: top; background-color: #BFBFBF">
    <TD STYLE="width: 49%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Current wording</B></FONT></TD>
    <TD STYLE="width: 51%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Proposed amendment</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Article 30. (...) Paragraph 2</B> -&nbsp;&nbsp;Up to one third (1/3) of the members of the Audit Committee may be reappointed to such body for an additional term of one (1) year, waiving the interstitial of three (3) years provided for in &sect; 1, above.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Article 30. (...) Paragraph 2</B> -&nbsp;&nbsp;Up to 1/3 (one third) of the members of the Audit Committee may be reappointed to such body for <FONT STYLE="text-decoration: underline double; color: #0070C0">another 5 additional terms of one (1) year each, </FONT><FONT STYLE="color: red"><STRIKE>an additional term of one (1) year,</STRIKE></FONT> waiving the interstitial of three (3) years provided for in &sect; 1, above.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt"><B>Justification</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; font-family: Times New Roman,serif"><FONT STYLE="font-family: Verdana,sans-serif; font-size: 10pt">It is proposed to amend paragraph 2 of article 30 of the Company's Bylaws to reflect the provisions of CMN Resolution 4910/22 regarding the term of office of the Audit Committee of Financial Institutions.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center; color: red"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">ANNEX VII</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">CONSOLIDATED BYLAWS OF THE COMPANY</P>

<P STYLE="color: red; font: bold 10pt/15pt Verdana,sans-serif; margin: 0; text-align: center">(With marks of the new wording, according
to the proposed amendment)</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.05pt"><B>B</B></FONT><B><FONT STYLE="letter-spacing: -0.05pt">ANC</FONT>O
S<FONT STYLE="letter-spacing: -0.05pt">ANTANDE</FONT>R <FONT STYLE="letter-spacing: 0.05pt">(B</FONT><FONT STYLE="letter-spacing: -0.05pt">RA</FONT>SI<FONT STYLE="letter-spacing: -0.05pt">L</FONT>)
S.<FONT STYLE="letter-spacing: -0.05pt">A</FONT>.</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.05pt">Publicly-held Company
with Authorized Capital</FONT></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.05pt">CN</FONT>PJ<FONT STYLE="letter-spacing: 0.05pt">/</FONT>MF
<FONT STYLE="letter-spacing: -0.1pt">no.</FONT> 90.<FONT STYLE="letter-spacing: -0.1pt">4</FONT>00.88<FONT STYLE="letter-spacing: -0.1pt">8</FONT><FONT STYLE="letter-spacing: 0.05pt">/</FONT>0<FONT STYLE="letter-spacing: -0.1pt">0</FONT>0<FONT STYLE="letter-spacing: 0.05pt">1</FONT><FONT STYLE="letter-spacing: -0.2pt">-</FONT>42</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.05pt">N</FONT><FONT STYLE="letter-spacing: -0.2pt">I</FONT><FONT STYLE="letter-spacing: -0.05pt">R</FONT>E
35.300.332.067</P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 0 10pt; text-align: center"><B>BYLAWS</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE I<BR>
CORPORATE NAME, HEAD OFFICES, JURISDICTION, DOMICILE AND</B></P>

<P STYLE="font: 10pt/14pt Verdana,sans-serif; margin: 0; text-align: center"><B>CORPORATE PURPOSE</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 1.</B> BANCO SANTANDER (BRASIL)
S.A. (the &#8220;<B>Bank</B>&#8221; or the &#8220;<B>Company</B>&#8221;), a private legal entity, is a joint stock company governed by
these Bylaws and by the legal and regulatory provisions that apply to it.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 2.</B> The Company has its registered
office, its chosen jurisdiction and its domicile in the city of S&atilde;o Paulo, in the state of S&atilde;o Paulo.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 3.</B> The Company is established
for an indefinite period of duration.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 4.</B> The Company&#8217;s corporate
purpose is the performance of lending and borrowing and accessory operations, inherent to the related authorized Portfolios (Commercial,
Investment, Credit, Financing &amp; Investment, Mortgage Loan and Lease), as well as Foreign exchange and Securities Portfolio Management
operations, besides any other operations permitted to both companies, as set forth in legal and regulatory provisions, it being permitted
to hold interest in other entities, as a partner or shareholder.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE II</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>SHARE CAPITAL AND SHARES</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 5.</B> The share capital is
sixty five billion Brazilian Reais (BRL 65,000,000,000.00), consisting of 7,498,531,051 (seven billion, four hundred and ninety-eight
million, five hundred and thirty-one thousand, fifty-one) shares, of which 3,818,695,031 (three billion, eight hundred and eighteen million,
six hundred and ninety-five thousand, thirty-one) are common shares and 3,679,836,020 (three billion, six hundred and seventy-nine million,
eight hundred and thirty-six thousand and twenty) are preferred shares, all registered without par value.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1. </B>The Company is authorized
to increase its share capital, by resolution of its Board of Directors, independently of any amendment to its Bylaws by up to a total
limited to nine billion ninety million nine hundred and nine thousand and ninety (9,090,909,090) common or preferred shares, without maintaining
any specified ratio between the shares of each type, subject always, in the case of preferred shares, to the maximum limit permitted by
law.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
2.</B> When share capital is increased, the shares may be totally subscribed and paid up by an interested shareholder, in his own name
and on behalf of the other shareholders, as their fiduciary agent, with the undertaking to transfer to them, within the period of the
preemptive rights, the shares to which he has a right in virtue of his preemptive rights in the subscription of the capital increase and
any amounts left over.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> Provided that the
authorized capital limit is not exceeded, the Board of Directors may resolve to issue subscription warrants.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> Within the limit
of authorized capital and under the plan approved by the General Meeting, the Bank can grant call options to management, employees or
natural persons providing services to it, or to management, employees or natural persons providing services to entities under its control,
to the exclusion of the preemptive right of shareholders in connection with the granting and exercise of call options.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5.</B> Each common share
entitles its holder to one vote at the General Meetings.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 6.</B> Preferred shares
convey the following advantages on their holders:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> dividends ten percent
(10%) higher than those attributed to common shares;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> priority in the distribution
of dividends;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> participation, on
equal terms with the common shares, in capital increases arising from the capitalization of reserves and income, as well as in the distribution
of bonus shares created by the capitalization of income in suspense, reserves or any other resources;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV &#8211;</B> priority in the reimbursement
of capital, free from premium, in the case of the liquidation of the Company; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V &#8211;</B> the right to be included
in a public offering arising from the Transfer of Control of the Company at the same price and on the same conditions as those offered
to the Controlling Shareholder Transferor, as defined in Title X of these Bylaws.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 7</B>. Preferred shares
do not entitle the holder to a vote, except in respect of the following matters:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>(a)</B> the transformation, amalgamation,
merger or split of the Company;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>(b)</B> the approval of agreements
between the Company and the Controlling Shareholder, directly or through third parties, and between the Company and other companies in
which the Controlling Shareholder has an interest, provided that, in accordance with legal or statutory provisions, they are subject to
a resolution of the Company in General Meeting; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>(c)</B> the value of assets intended
to be used for paying up an increase in the Company&#8217;s share capital.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 8.</B> All shares are registered
and held in deposit accounts in the name of their holders, by the Company itself, without certificates being issued; and the cost of services
for the transfer of ownership may be collected from the shareholder.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
9</B>. A General Meeting may, at any time, decide to convert the preferred shares into common shares, and set the conversion ratio.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 10</B>. The Company may
acquire its own shares, subject to the authorization of the Board of Directors, with the object of holding them in treasury for subsequent
disposal or cancellation, subject to the legal and regulatory provisions in force.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 11</B>. The Company may,
subject to notification to BM&amp;FBOVESPA and the publication of an announcement, suspend share transfers and share splits for a maximum
period of fifteen (15) consecutive days or ninety (90) non-consecutive days during the year.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 12</B>. New fully paid-up
shares may receive dividends in full, irrespective of the date of subscription. It will be the responsibility of the General Meeting or
of the Board of Directors, as the case may be, to set out the payment conditions for newly-subscribed shares, and for bonus shares issued,
and they may also create incentives for the immediate paying-in of the corresponding amounts.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 13</B>. The preemptive
right can be excluded or the exercise period can be reduced, at the discretion of the Board of Directors, in connection with the issuances
of shares and subscription warrants, whose placement is made through (i) sale on stock exchange or public subscription, or (ii) share
exchange, in a public offering, by operation of law.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE III </B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>SHAREHOLDERS&#8217; MEETING</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 6.</B> The General Meeting will
ordinarily be held on or before April 30 of each year and, extraordinarily, whenever corporate interests so demand.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1</B>. A General Meeting
shall be convened by the Board of Directors or, in such cases as the law allows, by shareholders or by the Fiscal Council, by means of
a published announcement, with the first call being made at least fifteen (15) days in advance and the second at least eight (8) days
in advance. The General Meeting which shall consider the cancellation of the registration of a publicly company shall be convened at least
thirty (30) days in advance.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2</B>. A shareholder may
be represented at a General Meeting by a attorney-in-fact authorized, in the manner prescribed by the current legislation, not more than
a year previously, and who must be a shareholder or manager of the Company or a lawyer; and the prior deposit of the respective instrument
of proxy at the Company&#8217;s registered office may be required, within the period fixed in the announcements convening the meeting.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3</B>. The General Meeting
will fix, each year, the aggregate amount of the compensation of the managers, the Audit Committee and the Fiscal Council, if one has
been appointed.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4</B>. The General Meeting
shall be called to order and chaired by the Chairman of the Board of Directors, or by any member of the Executive Board, except Officers
without a specific designation, or by the representative of the Controlling Shareholder, who shall invite one of those present to act
as Secretary to the Meeting.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
5</B>. It is the responsibility of the General Meeting to decide all those matters which are privy to it, in accordance with the current
legislation. The resolutions of the General Meeting shall be decided by an absolute majority of votes.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE IV </B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>MANAGEMENT</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 7.</B> The Company shall be
managed by a Board of Directors and an Executive Board.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 8.</B> Only individual persons
may be elected as members of the management bodies; the members of the Board of Directors may or may not be shareholders or residents
in the country, and the members of the Executive Board may or may not be shareholders, but must be resident in the country.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 9.</B> The managers shall be
appointed to their positions through instruments of investiture registered in the books of Minutes of the Board of Directors or of the
Executive Board, as the case may be, irrespective of the provision of any security, after their names have been approved by the Central
Bank of Brazil and once the applicable legal requirements have been complied with.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sole paragraph.</B> The instrument
of investiture shall be signed within thirty (30) days of the approval of the appointment by the competent government authority, unless
there is justification accepted by the management body to which the Director or Officer shall have been appointed, otherwise the appointment
shall be subject to annulment.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 10.</B> Directors and Officers
are prohibited from taking part in the consideration, approval or settlement of business or loans involving a company:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> of which they are partners
or shareholders with more than five percent (5%) of the share capital; or</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> to whose management
they belong or shall have belonged up to six (6) months prior to their appointment to the position of manager of the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 11.</B> A maximum of up to one
third of the members of the Board of Directors may be appointed to positions on the Executive Board.</P>

<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sole Paragraph.</B> The positions
of Chairman of the Board of Directors and Chief Executive Officer shall not be accumulated by the same person.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 12.</B> Members of the Board
of Directors appointed to positions on the Executive Board are entitled to receive the corresponding remuneration for the positions which
they shall occupy.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 13.</B> The mandates of the
members of the Board of Directors and of the Executive Board are single and concurrent. The period of management of each of the managers
shall continue until a substitute shall be appointed.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>CHAPTER I </B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>THE BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 14.</B> The Board of
Directors shall consist of at least five (5) members, with a maximum of twelve (12), elected at the General Meeting, with a single
tenure of two (2) years, each year being calculated as the period
between two (2) Annual General Meetings, with reelection being allowed.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1</B>. At the General Meeting
which is held to consider the election of the members of the Board of Directors, the shareholders shall first determine the effective
number of members of the Board of Directors to be elected.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> At least twenty
percent (20%) of the members of the Board of Directors shall be Independent Directors, as defined in Paragraph 3 of this Article 14. If
the observance of this percentage shall result in a fractional number of directors, rounding shall take place as follows: (i) rounding
up to the next whole number above if the fraction is 0.5 (five tenths) or higher; or (ii) rounding down to the next whole number below
if the fraction is less than 0.5 (five tenths).</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3</B>. For the purposes
of this article, the term &quot;Independent Director&quot; means the Director who: (i) has no relationship with the Company, other than
interest in the share capital; (ii) is not a Controlling Shareholder (as defined in article 40 hereof), spouse or relative up to the second
degree, is not or has not been, over the past three (3) years, related to the Company or an entity related to the Controlling Shareholder
(except for the persons related to public educational and/or research institutions); (iii) was not, over the past three (3) years, an
employee or officer of the Company, the Controlling Shareholder or an entity controlled by the Company; (iv) is not a supplier/provider
or buyer/taker, either direct or indirect, of the Company&#8217;s services and/or products, to an extent that implies loss of independence;
(v) is not an employee or manager of a company or entity that is supplying or demanding services and/or products to the Company, to an
extent that implies loss of independence; (vi) is not a spouse or relative up to the second degree of any manager of the Company and (vii)
does not receive any other compensation from the Company besides that payable as a director (earnings in cash arising from interest in
the share capital are excluded from said restriction). Independent Director is also that person elected in a separate election by holders
of voting shares representing no less than fifteen percent (15%) of total voting shares or holders of shares without voting rights or
with restricted vote representing ten percent (10%) of the share capital, as set forth in article 141, Paragraphs 4 and 5, of Law 6404/76.
The qualification as Independent Director should be expressly set out in the minutes of the General Meeting that elected him/her.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4</B>. At the end of their
tenure, members of the Board of Directors shall continue to carry out their duties until new elected members take office.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5</B>. A member of the
Board of Directors shall not have access to information or take part in meetings of the Board of Directors relating to matters concerning
which the member has or represents interests conflicting with those of the Bank.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>Paragraph 6</B>. The Board of Directors,
for the better performance of its functions, may set up committees or working groups with defined objectives, which shall act as auxiliary
bodies without decision powers, always with the purpose of advising the Board of Directors, comprised by members nominated by the Board
among the members of the management and/or other persons directly or indirectly connected with the Bank.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 15.</B> The Board of
Directors will have one (1) Chairman and one (1) Vice Chairman, who will be elected by the majority of the votes of the members
attending the General Meeting that appoints the members of the
Board of Directors, subject to the provisions set forth in Paragraph 3 in the events of vacancy or temporary absences or impediments in
the positions of Chairman and Vice Chairman.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The Chairman of
the Board of Directors shall be replaced by the Vice Chairman during temporary absences or impediments. During temporary absences or impediments
of the Vice Chairman, the Chairman shall appoint a substitute among the remaining members. In the event of temporary impediments or absences
of the other members of the Board of Directors, each Director shall appoint a substitute among the other members.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The replacements
provided for in this Article which result in the accumulation of positions will not imply the accumulation of fees or other advantages,
nor the right to the substituted member&#8217;s vote.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> In case of vacancy
of the position of Chairman of the Board of Directors, the Vice Chairman will assume his/her functions, remaining such post unaltered.
In the event of vacancy in the position of Vice Chairman, the Chairman will nominate his/her successor among the remaining Directors.
In case of vacancy of the position of Board of Directors&#8217; member, and if necessary to compose the minimum number of members mentioned
on caput of Article 14 of this Bylaws, the Board of Directors shall nominate/appoint, ad referendum of the next General Meeting to be
held, his/her successor.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 16.</B> The Board of Directors
will normally meet four (4) times in each year, but meetings may be held more frequently if the Chairman of the Board of Directors shall
so desire.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The call notices
for the meetings will be made through a notice in writing delivered to each member of the Board of Directors within at least five (5)
business days in advance, unless the majority of the members in exercise determines a lower term, but not below forty eight (48) hours,
as set forth in Paragraph 3 hereof.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2</B>. The notices shall
indicate the place, date and time of the meeting, and shall include a summary of the agenda.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> The presence of
all the members shall permit meetings of the Board of Directors to be held without prior notice.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> The meetings of
the Board of Directors should be held at the Company&#8217;s head offices, or, if so decided by all Directors, in another place. The members
of the Board of Directors can also meet by means of conference call or video conference or any other similar communication means, which
will be conducted on real time, and be considered as one single act.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5.</B> The meetings of
the Board of Directors will be valid if attended by a minimum quorum of fifty percent (50%) of the elected members. If no quorum exists
at the appointed time, the Chairman shall call a new meeting of the Board of Directors, giving at least two (2) business days&#8217; notice,
and the reconvened meeting may be held without the need for a quorum. Matters not on the agenda for the original meeting of the Board
of Directors may not be considered at the reconvened meeting, unless all the members are present and expressly agree to the new agenda.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
6.</B> The secretary of the meetings of the Board of Directors will be appointed by the chairman of the meeting and all resolutions will
be included in the minutes drafted in a specific book, and those that affected third parties should be published.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 7.</B> The resolutions
of the Board of Directors will be made by the majority of votes among the attending members.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 17.</B> In addition to the attributes
accorded by law or by the Bylaws, the Board of Directors will be responsible for the following:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I.</B> To comply with and to ensure
compliance with these Bylaws and resolutions of General Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II.</B> to set the general guidelines
for the business and operations of the Company;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III.</B> to appoint and dismiss Officers
and to define their duties;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV.</B> to set the compensation,
the indirect benefits and the other incentives of the Officers, within the global management compensation limits approved in the General
Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V.</B> to monitor the management
performance of the Officers; to examine the Company&#8217;s books and documents at any time; to request information about agreements entered
into or being negotiated and about any other acts;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VI.</B> to choose and to dismiss
the independent auditors and to fix their compensation, as well as to call on them to give the explanations that it may consider necessary
about any matter;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VII.</B> to give an opinion on the
Management Report, the accounts of the Executive Board and the financial statements of the Bank and to approve their presentation to the
General Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VIII.</B> to approve and to review
the annual budget, the capital budget and the business plan, and to formulate a capital budget proposal to be submitted to the General
Meeting for the purpose of profits retention;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IX.</B> to decide on the convening
of General Meetings, when considered necessary or under the terms of Article 132 of Law No. 6.404/76;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>X.</B> to submit to the Annual General
Meeting a proposal for the appropriation of the net income for the period, and to examine and consider the six-monthly balance sheets,
or balance sheets raised at shorter periods, and the payment of dividends or interest on own capital arising from these balance sheets,
as well as to consider the payment of interim dividends out of accumulated profits or revenue reserves existing as of the last annual
or six-monthly balance;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XI.</B> to submit proposals to the
General Meeting for the increase or reduction of the share capital, reverse splits, bonus issues or splits of the Company's shares, and
amendments to the Bylaws;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XII.</B> to present proposals to
the General Meeting for the liquidation, merger, split or amalgamation of the Bank;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XIII.</B> approve the Bank&#8217;s
capital increase, regardless of amendment to the Bylaws, within the limits set forth in Paragraph 1 of article 5 hereof, by setting the
price, payment date and share issuance conditions, as well as the issuance of credit securities and convertible instruments within the
limits set forth in Paragraph 1 of article 5 hereof, it being also permitted to exclude the preemptive right or reduce the exercise periods
in the issuance of shares, subscription warrants, credit securities and other convertible instruments, whose placement is made through
sale on stock exchange or public subscription or public offering, as set forth in the law;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XIV.</B> to consider the issue of
subscription warrants, as provided in Paragraph 3 of article 5 of these Bylaws;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>XV.</B>
to grant, after approval at the General Meeting, share purchase options to managers, employees or individuals who provide services to
the Company or to its subsidiaries, without giving the shareholders preemptive rights, under the terms of plans approved by the General
Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XVI.</B> to resolve on the negotiation
with the Company&#8217;s shares for cancellation or to be held in treasury for subsequent disposal, subject to the pertinent legal provisions;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XVII.</B> to fix the amount of profit
sharing for officers and employees of the Bank and of its subsidiaries, with the power to decide not to offer them a share;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XVIII.</B> to decide on the payment
or credit of interest on the Company&#8217;s own capital to shareholders, under the terms of the applicable legislation;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XIX.</B> authorize the acquisition
or disposal of investments in equity interests in amounts above five percent (5%) of the net equity reported in the last balance sheet
approved at the Annual General Meeting, as well as authorize the establishment of joint ventures or consummation of strategic alliances
with third parties;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XX.</B> to appoint or dismiss the
Company&#8217;s Ombudsman;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXI. </B>appoint and remove the members
of the Audit Committee and Compensation Committee, fill in the vacancies due to death, resignation or removal and approve the body&#8217;s
internal policies, subject to the provisions of Titles VI and VII hereof;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXII. </B>authorize the sale of assets
and properties, the creation of liens and tendering of collaterals for third-party obligations, whenever exceeding five percent (5%) of
the equity reported in the last balance sheet approved at the Annual General Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXIII.</B> in special cases to concede
specific authorization for particular documents to be signed by a single Officer, with the case being minuted in the appropriate book,
except in the situations described in these Bylaws;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXIV.</B> approve the engagement
of a share or unit bookkeeping institution;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXV.</B> to approve policies for
the disclosure of information to the market and trading in the Bank&#8217;s own securities;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXVI. </B>choose of specialized appraisal
institutions or entities to prepare the appraisal report relating to the Bank&#8217;s shares, in case of cancellation of public company
registration, as set forth in Title X hereof;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXVII.</B> to express a favorable
or unfavorable opinion on any public offer of acquisition of the shares issued by the Company, by means of an advance reasoned opinion,
to be issued within up to fifteen (15) days of the publication of the offer document, which should address at least the following: (i)
the suitability and the timing of the public offer of acquisition of the shares in relation to the interests of the shareholders as a
whole and in relation to the liquidity of the securities they hold; (ii) the repercussions of the public offer of acquisition of shares
on the interests of the Company; (iii) the strategic plans in relation to the Company disclosed by the offeror; (iv) other matters which
the Board of Directors may consider pertinent as well as the information required under the applicable rules established by the Securities
Commission;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXVIII.</B> to consider any other
matter which may be submitted to it by the Executive Board, and to convene members of this Board for joint meetings whenever it shall
deem appropriate;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXIX.</B> to set up technical or
consultative commissions and/or auxiliary committees, permanent or temporary, define their responsibilities and powers, other than those
granted to the Board of Directors itself in terms of Article 142 of Law No. 6.404/76, and monitor their activities, in accordance with
Article 14 Paragraph 6 of these Bylaws;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXX.</B> resolve on, subject to these
Bylaws and the prevailing laws, their agenda and adopt or enact regulatory standards for their operation;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>XXXI.</B>
to establish rules relating to the Units, as provided for in Title XIII of these Bylaws;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXXII.</B> to supervise the planning,
operation, control and review of the compensation policy for the Company's managers, taking into account the proposals of the Compensation
Committee; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XXXIII.</B> to ensure that the managers&#8217;
compensation policy is in accordance with the regulations issued by the Central Bank of Brazil.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 18.</B> The Chairman of the
Board of Directors should:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I.</B> call and chair the meetings;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II.</B> call the General Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III.</B> instruct the preparation
of the meetings of the Board of Directors;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV.</B> designate special tasks to
the Directors; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V.</B> call, when the body is in
operation, the Fiscal Council members to assist with the meetings of the Board of Directors, whose agenda includes matters with respect
to which the Fiscal Council should issue an opinion.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>CHAPTER II</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>EXECUTIVE BOARD</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 19.</B> The Company is managed
and represented by the Executive Board, which shall consist of at least two (2) members, with a maximum of seventy-five (75), who may
or may not be shareholders, who are resident in Brazil, elected and subject to dismissal at any time by the Board of Directors, with a
single tenure of two (2) years, with the possibility of reelection. One (1) member of the Board must be designated as Chief Executive
Officer (CEO), and the others may be designated Senior Executive Vice-Presidents, Executive Vice-Presidents, Investor Relations Officer,
Executive Officers and Officers without a specific designation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The members of the
Executive Board shall be selected from among persons of unblemished reputation and recognized professional competence.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2</B>. The designation
of the positions referred to above shall be made at the time of their election.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> Without prejudice
to the provisions of this Article, any Officer may use the designated title with an indication of the area of responsibility.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> When a new member
of the Executive Board is elected, or a substitute appointed in the event of a vacancy, the termination of the mandate shall coincide
with that of the other elected members.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5.</B> The post of Investor
Relations Officer may be assumed cumulatively with another position on the Executive Board.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 20.</B> During temporary impediments,
periods of leave or absences, the CEO and the other Officers shall be substituted by a member of the Executive Board indicated by the
CEO.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> If the office of
CEO shall become vacant, owing to death, resignation or dismissal, the members of the Board of Directors may indicate a substitute, from
among the remaining members, or elect a new CEO.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
2.</B> When substitutions in terms of this Article shall create an accumulation of positions, they shall not result in an accumulation
of fees or other advantages, nor give the right to the vote of the officer substituted; it shall be permitted, however, that when one
of the members of the Executive Board shall be substituting the CEO, that member shall have a casting vote.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 21.</B> The Executive Board
shall meet whenever convened by the CEO or by the person designated by the CEO.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The resolutions
of the meetings of the Executive Board, except for the events set forth in Paragraphs 3 and 4 of this article, will be made by the majority
of votes among the attending members, subject to the provisions set forth in item V of article 27 below, the meetings being instated:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> with the presence of
the Chief Executive Officer and any eight (8) members of the Executive Board; or</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II -</B> with the presence of the
two (2) Executive Vice Presidents, Seniors or not, and any seven (7) members of the Executive Board.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2</B>. Meetings of the
Executive Board shall be attended by one (1) Secretary, nominated by the Chairman of the meetings, and all its deliberations shall be
drafted and registered in the appropriate book, by the members present, with those that affect third parties being published.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> The commencement
and deliberations of Meetings of the Executive Board can occur with a different minimum quorum, in accordance with responsibilities attributed
by the CEO and with the criteria for deliberation set by the Executive Board, in terms of item X of Article 22, and of item IV of Article
27, both of these Bylaws.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>Article 22</B>. The attributions
and duties of the Executive Board are:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> to comply with and
to ensure compliance with these Bylaws and the resolutions of General Meetings and of the Board of Directors;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> to appoint representatives
and correspondents, in Brazil and overseas;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> within the general
guidelines established by the Board of Directors, to carry out the business and operations defined in Article 4 of these Bylaws, with
the autonomy to schedule them in the best interests of the Company;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV &#8211;</B> to propose the distribution
of and to appropriate income, in accordance with the provisions of Title IX;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V &#8211;</B> authorize the acquisition
or sale of investments in equity interests with third parties, between three percent (3%) and five percent (5%) of the net equity reported
in the last balance sheet approved at the Annual General Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VI &#8211;</B> to authorize the disposal
of property, plant and equipment, the constitution of encumbrances and the issue of guarantees for third party liabilities, when they
fall between three percent (3%) and five percent (5%) of the net equity as shown in the latest balance sheet approved by the Annual General
Meeting;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VII &#8211;</B> to submit the financial
statements to the Board of Directors;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>VIII</B> &#8211; to define the functions
and responsibilities of its members, according to the rules of the regulatory and supervisory bodies of the Company; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IX &#8211;</B> to establish specific
criteria for the consideration of matters relating to the duties of the Executive Board, when attributed by the CEO, in terms of item
IV of Article 27 of these Bylaws.</P>


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<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 23.</B> The Executive Board
shall have an Executive Committee, with decision-making capacity and with the duty to consider matters relating to the management of the
business, operational support, human resources, allocation of capital, relevant projects in the areas of technology, infrastructure and
services of the Company and of the entities comprising the Santander Group in Brazil, and other attributes that shall be established by
the Board of Directors from time to time.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The Executive Committee
shall consist of the CEO, the Senior Executive Vice-Presidents and the Executive Vice-Presidents.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The Executive Committee
shall draw up Internal Regulations with operating rules for its functions, as well as describing in detail the responsibilities established
in this Article.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>Art. 24.</B> The Company will
be represented in all acts, operations and documents that is binding upon it:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> by any two members
of the Executive Board;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> by a member
of the Executive Board together with a specifically designated attorney-in-fact to represent the Company; or</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> by two attorneys-in-fact
together specifically designated to represent the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> Subject to
the provisions set forth in Paragraph 3 of this article 24, the Company&#8217;s powers of attorney will be jointly signed by any two members
of the Executive Board, being one, necessarily, the CEO, or 1 (one) Executive Vice President, Senior or not. The powers of attorney should
indicate the powers of the attorneys and the validity.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 35.4pt"><B>Paragraph 2.</B> Two Officers
will be empowered to decide on the opening, transfer or closing of branches, offices or representative offices, in Brazil or overseas.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> The Company
may be represented in court, in proceedings at administrative level or in acts which require the personal appearance of a legal representative,
by any member of the Executive Board and for these purposes it may appoint a proxy-holder with special powers, including those of receiving
an initial summons, court requirements or notifications. The instrument of mandate, in terms of this paragraph, may be signed by a single
Officer, without the remaining formalities in the first paragraph being applicable.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 25.</B> Exceptions to the provisions
of the preceding Article include the simple endorsement of securities for collection and the endorsement of checks for deposit to the
Company&#8217;s own account, in which cases, for such acts to be valid, the signature of one (1) proxy-holder or of one (1) employee expressly
authorized by any member of the Executive Board, excluding Officers without specific designation, will suffice.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 26.</B> The Company may be represented
by any member of the Executive Board acting alone, or by a single proxy-holder: a) in dealings with companies, government offices, local
authorities, semi-public companies or utilities companies, it being possible in such cases, among other things, to sign letters forwarding
documents, and documents forming part of processes subject to the examination of regulatory bodies; and b) in General Meetings, General
or quota holders' meetings of companies or investment funds in which the Company has an interest, as well as of entities in which it is
a partner or affiliate.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>Art. 27.</B> In terms of Article
20 of these Bylaws, the CEO or his substitute in person must:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>I -</B> preside over and manage
all the Company&#8217;s business and activities;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> comply with
and ensure compliance with these Bylaws, the resolutions of General Meetings and the guidelines of the Board of Directors, and chair the
meetings of the Executive Board, except in the situation described in item II of paragraph 1 and of paragraphs 2 and 3, all of Article
21 of these Bylaws, in which cases the meetings of the Executive Board may be chaired by any of its members;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>III -</B> supervise the management
of the members of the Executive Board, requesting information about the Company&#8217;s business;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>IV &#8211;</B> define the
duties of the members of the Executive Board, except as provided in item VII of Article 22 of these Bylaws; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>V &#8211;</B> use a casting
vote in the event of a tied ballot in deliberations of the Executive Board.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>Sole paragraph.</B> It is
the responsibility of:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>I. Senior Executive Vice-Presidents</B>:
to assist the CEO in the discharge of the CEO&#8217;s functions;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>II. Executive Vice Presidents</B>:
exercise the duties assigned by the Chief Executive Officer or the Board of Directors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>III. Investor Relations Officer</B>:
(i) coordinate, manage, steer and supervise the relationship with investors, as well as represent the Bank before shareholders, investors,
market analysts, the Brazilian Securities and Exchange Commission, and other institutions related to the activities performed in the capital
market, in Brazil and abroad; and (ii) other duties from time to time determined by the Board of Directors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>IV. Executive Officers</B>:
conduction of the activities of the Bank&#8217;s departments and areas under his/her responsibility and advise the other members of the
Executive Board; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>V. Officers with no specific
designation</B>: to coordinate the areas attributed to them by the Executive Board.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE V</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>FISCAL COUNCIL</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 28.</B> The Company shall have
a Fiscal Council, which will not function permanently, consisting of at least three (3) members, with a maximum of five (5), and an equal
number of deputies, who may or may not be shareholders and who, if elected, shall be elected at the General Meeting, with the possibility
of reelection.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> Only individual
persons, resident in Brazil and meeting the legal requirements, may be elected to the Fiscal Council.</P>


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<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The compensation
of the members of the Fiscal Council shall be fixed at the General Meeting when they are elected, subject to the provisions of Article
162, paragraph 3, of Law No. 6.404/76.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 29.</B> The Fiscal Council shall
have the attributes and powers conferred on it by law.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE VI</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>AUDIT COMMITTEE</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 30.</B> The company will have
an Audit Committee comprising at least 3 (three) and at the most 6 (six) members appointed by the Board of Directors, including persons,
members or otherwise of the Board of Directors who meet the legal and regulatory requirements for exercising the position, including the
requisites that ensure their independence, one of which is proven knowledge of the fields of accounting and audit, with a term of office
of 1 (one) year, extending to the date of the investiture of the substitute members and being allowed the reappointment for up to <FONT STYLE="text-decoration: underline double; color: #0070C0">5
(five) consecutive</FONT> <FONT STYLE="color: red"><STRIKE>4 (four) consecutive</STRIKE></FONT> reelections permitted under applicable
legislation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1 </B>Once the maximum
limit for reappointments provided for in this Article 30 is achieved, the member of the Audit Committee may only join such body in the
Company after at least three (3) years after the end of their previous term of office.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2 </B>Up to one third (1/3)
of the members of the Audit Committee may be reappointed to such body for <FONT STYLE="text-decoration: underline double; color: #0070C0">another
5 additional terms of one (1) year each, </FONT><FONT STYLE="color: red"><STRIKE>an additional term of one (1) year,</STRIKE></FONT> waiving
the interstitial of three (3) years provided for in &sect; 1, above.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> When the members
of the Audit Committee are to take office, its Coordinator will be appointed.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> The Audit Committee
shall report directly to the Company&#8217;s Board of Directors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5.</B> In addition to other
responsibilities conferred upon it by law of regulatory rules, it is incumbent on the Audit Committee to:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> establish in the Internal
Regulations the operational rules by which it functions;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> recommend to the Board
of Directors the hiring or substitution of the independent auditors;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> review, prior to
publication, the half-year accounting statements, including the notes, the management report and the opinion of the independent auditor;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV &#8211;</B> evaluate the effectiveness
of the independent and internal audits, including in regard to compliance with the legal provisions and rules applicable to the Company,
in addition to the internal regulations and codes;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V &#8211;</B> evaluate compliance
by the Company&#8217;s management with the recommendations made by the independent or internal auditors;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VI &#8211;</B> establish and
publish the procedures for receiving and dealing with information about non-compliance with legal provisions and rules applicable to
the Company, as well as the internal regulations and codes,
and which shall also contemplate specific procedures for protecting the person providing the information and the confidentiality thereof;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VII &#8211;</B> recommend to the
Executive Board corrections or enhancements to the policies, practices and procedures identified within the scope of its terms of reference;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VIII &#8211;</B> meet, at least once
every quarter, with the Executive Board and the independent and internal auditors, so as to check that their recommendations or points
raised have been complied with, including in regard to the planning of the respective audit work, with the content of such meetings registered
in the minutes;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IX &#8211;</B> to meet with the Fiscal
Council, if it is in session, and with the Board of Directors, at their request, so as to discuss the policies, practices and procedures
identified within the scope of their respective competencies; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>X &#8211;</B> prepare, at the end
of the semesters ended on June 30 and December 31 of each year, the Audit Committee Report, with due regard for the applicable legal and
regulatory statutes of limitation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 6.</B> Together with the
six-month accounting statements, the Audit Committee shall arrange for the publication of a summary of the report referred to in item
X of the previous paragraph.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE VII</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>COMPENSATION COMMITTEE</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 31.</B> The Company shall have
a Compensation Committee comprising at least 3 (three) and at the most 5 (five) members appointed by the Board of Directors among persons
who meet the legal and regulatory conditions for holding office, where one of the members cannot be a manager of the Company, while the
others may or may not be members of the Company&#8217;s Board of Directors, whereby at least two members are independent under the terms
of article 14, Paragraph 3 of these Bylaws. The Compensation Committee must comprise members with the qualifications and experience required
for exercising competent and independent opinions regarding the institution&#8217;s compensation policy, including the repercussions of
this policy on risk management. The members of the Compensation Committee shall have a term of office of 2 (two) years, and may be reelected
up to 4 (four) consecutive times within the terms of the applicable legislation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> When the members
of the Compensation Committee are to take office, its Coordinator will be appointed.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The Compensation
Committee shall report directly to the Company&#8217;s Board of Directors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> In addition to other
responsibilities conferred upon it by law or regulatory rules, it is incumbent on the Compensation Committee to:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> establish in the Internal
Regulations the operational rules by which it functions;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> prepare the compensation
policy for the Company&#8217;s management, submitting to the Board of Directors the various types of fixed and variable compensation,
in addition to benefits and special hiring and dismissal programs;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> supervise the implementation
and coming into operation of the compensation policy for the Company&#8217;s management;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV &#8211;</B> do annual reviews
of the compensation policy for the Company&#8217;s management, recommending corrections or enhancements to the Board of Directors;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>V
&#8211;</B> recommend to the Executive Board corrections or enhancements to the policies, practices and procedures identified within the
scope of its terms of reference;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VI &#8211;</B> propose to the Board
of Directors the global amount of management compensation, for submission to the General Meeting, pursuant to art. 152 of Law 6.404 of
1976;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VII &#8211;</B> assess future internal
and external scenarios and their possible impacts on the management compensation policy;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VIII &#8211;</B> analyze the Company&#8217;s
management compensation policy with respect to market practices, in order to identify significant discrepancies with respect to similar
companies, proposing the necessary adjustments;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IX -</B> to meet with the Board of
Directors, at its request, so as to discuss the policies, practices and procedures identified within the scope of its respective competencies;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>X &#8211;</B> prepare on an annual
basis, within 90 (ninety) days from December 31 of each year, the Report of the Compensation Committee, with due regard for the applicable
legal and regulatory statutes of limitation, referring to base date December 31 of each year; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>XI &#8211;</B> make sure that the
management compensation policy is permanently compatible with the Bank&#8217;s risk management policy, the goals and current and expected
financial condition, as well as with the provisions set forth in applicable laws and regulations published by the Central Bank of Brazil.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> The Board of Directions
may remove from office any members of the Compensation Committee at any time.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 5.</B> The compensation
of the members of the Compensation Committee shall be set by the Board of Directors once a year.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE VIII </B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>OMBUDSMAN DEPARTMENT</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 32.</B> The company shall have
an Ombudsman&#8217;s Department, comprising an Ombudsman who will be appointed by the Board of Directors from among persons who meet the
minimum conditions and requisites for ensuring that it functions properly, and who should be conversant with matters involving ethics,
consumer rights and protection and conflict mediation, with a term of office of three (3) years, reelection being permitted.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The duties of the
Ombudsman Department are:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt">I &#8211; to provide the highest-level
support to demands of clients and users of products and services that have not been solved at the primary support service channels of
the companies part of the Company&acute;s Financial Conglomerate;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt">II - act as a communication channel
between the Company and the customers and users of products and services, including the mediation of conflicts; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt">III - inform the Board of Directors
or, on its absence, the Company's Executive Board regarding the Ombudsman's Department activities.</P>

<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>Paragraph 2.</B> The Ombudsman&#8217;s
Department shall enjoy the conditions for it to function properly, and the hallmarks of its work will be transparency, independence, impartiality
and detachment.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Paragraph
3.</B> The Ombudsman&#8217;s Department is assured access to any information required for preparing appropriate responses to any demands
received, with full support of the management, and may request information and documents, so that it can carry out its activities in the
fulfillment of its duties.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 33.</B> The duties of the Ombudsman&#8217;s
Department involve the following activities:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> to support, record,
instruct, analyze and deal in a formal and appropriate manner with demands from clients and users of products and services of the companies
comprising the Company&#8217;s Financial Conglomerate;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> to provide the clarification
to the demanding client as to the progress of the demands, informing the estimated deadline for the response;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> inform to demanding
clients the term for the final reply, which cannot exceed ten (10) business days;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IV </B>&#8211; to forward a conclusive
response to clients&#8217; demands within the deadline informed in item III above;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>V &#8211;</B> to maintain the Board
of Directors, or in its absence, the executive management of the companies comprising the Company&#8217;s Financial Conglomerate, informed
about the problems and deficiencies detected in the fulfillment of its duties and about the result of the adopted measures by the officers
and directors of the companies part of the Company&#8217;s Financial Conglomerate in order to solve them; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>VI &#8211;</B> to prepare and forward
to the internal auditors, the Audit Committee and the Board of Directors, or in its absence, the executive management of the companies
comprising the Company&#8217;s Financial Conglomerate at the end of each six-month period, a quantitative and qualitative report about
the activities performed by the Ombudsman&#8217;s Department on the fulfillment of its duties.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sole paragraph.</B> The Board of
Directors may remove the Ombudsman from office at any time, should he/she fail to comply with the duties contemplated in article 32 and
the activities established in this article.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE IX</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>FISCAL YEAR, FINANCIAL STATEMENTS, RESERVES AND DIVIDENDS</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 34.</B> The fiscal year shall
coincide with the calendar year, beginning on January 1, and ending on December 31 of each year, at which time balance sheets and the
other financial statements shall be raised, with due regard for the deadlines established in Law 6.404/76 and the rules issued by the
Central Bank of Brazil.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 35.</B> Pursuant to current
legislation, the Company shall raise semi-annual balance sheets in June and December of each fiscal year, with due regard for the following
rules where the distribution of income is concerned.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 36.</B> The net income ascertained
after legal deductions and provisions shall be distributed as follows:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I -</B> 5% (five per cent) to the
legal reserve, until the latter reaches 20% (twenty per cent) of the share capital;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II -</B> 25% (twenty-five per cent)
of the adjusted net income, pursuant to article 202 of Law 6.404/76, shall be obligatorily distributed as mandatory dividends to all shareholders;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> the balance, if
any, may, under a proposal by the Executive Board and approved by the Board of Directors: (a) be allocated to the Dividend
Equalization Reserve, which shall be limited to 50% (fifty per cent)
of the share capital and shall serve to guarantee funds for payment of dividends, including as interest on equity, or advances thereon,
in order to maintain the remuneration flow to the shareholders, whereby once this limit has been reached, it shall be incumbent on the
General Meeting to decide on the balance, distributing it to the shareholders or to increasing the share capital; and/or (b) be retained,
so as to meet the capital investment requirements stipulated in the Company&#8217;s General Budget submitted by management for approval
by the General Meeting and reviewed by the latter on an annual basis where the duration exceeds a fiscal year.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sole paragraph.</B> Profits not allocated
as set forth in this article should be distributed as dividends, as set forth in Paragraph 6 of article 202 of Law 6404/76.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 37.</B> The Executive Board,
as authorized by the Board of Directors, during the fiscal year, can:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I &#8211;</B> declare dividends out
of line item &#8220;profit&#8221; recorded in the semiannual balance sheet;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II &#8211;</B> determine the preparation
of quarterly, bimonthly or monthly balance sheets and declare dividends out of line item &#8220;profit&#8221; recorded in these balance
sheets, provided that total dividends paid in each six-month period of the fiscal year does not exceed the amount of capital reserves
set forth in Paragraph 1 of article 182 of Law 6404/76; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>III &#8211;</B> declare interim dividends
out of line item &#8220;retained earnings&#8221; or &#8220;earnings reserves&#8221; in the last annual or semiannual balance sheet.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1</B> The dividends declared
by the Executive Board, pursuant to the main paragraph, are conditional on future approval by the General Meeting.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2</B> The Executive Board,
authorized by the Board of Directors, may determine payment, during the fiscal year and up to the Annual General Meeting, of equity interest
up to the limit permitted by law, which amount shall be allocated to the mandatory dividends dealt with in item II of article 36 hereof,
within the terms of the pertinent legislation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3 </B>Dividends unclaimed
within 3 (three) years from the commencement of payment shall prescribe in favor of the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 38.</B> The company&#8217;s
accounts shall be examined by independent auditors, in accordance with the law and the rules applicable to financial institutions.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 39.</B> The General Meeting
may, when it deems it convenient, create other reserves in accordance with current legislation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE X</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>DISPOSAL OF CONTROL AND CANCELLATION OF PUBLIC COMPANY
REGISTRATION</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Chapter I - Definitions</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 40.</B> For the purposes of
Title X, the following terms beginning with capital letters shall have the following meanings:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Controlling Shareholder</B>&quot; means
the shareholder or Group of Shareholders exercising the Company&#8217;s Controlling Power.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&#8220;<B>Transferor Controlling Shareholder</B>&#8221;
means the controlling shareholder when they transfer control of the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&#8220;<B>Controlling Shares</B>&#8221; means
the block of shares that directly or indirectly assures their holders the individual and/or shared exercise of the controlling power in
the Company.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Outstanding Shares</B>&quot; mean all
shares issued by the Company, except for shares held by the Controlling Shareholder, related persons, the Bank&#8217;s management and
those held in treasury.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Disposal of Control</B>&quot; means
the transfer to a third party, on remunerated basis, of the Controlling Shares.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Buyer</B>&quot; means that for whom
the Selling Controlling Shareholder transfers the Controlling Shares in a Transfer of the Company&#8217;s Control.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Group of Shareholders</B>&quot; means
the group of persons: (i) bound by voting contracts or agreements of any nature either directly or by means of controlled entities, controlling
entities or entities under common control, or (ii) among whom there is a control relationship; or (iii) under common control.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Controlling Power</B>&quot; or &quot;<B>Control</B>&quot;
means the power effectively used to steer corporate activities and instruct the operation of the Bank&#8217;s bodies, directly or indirectly,
actually or legally, regardless of the ownership interest held. There is assumption of ownership of control with respect to a person or
Group of Shareholders that is the holder of shares ensuring the absolute majority of votes of the shareholders attending the three last
General Meetings of the Company, although it is not the holder of shares ensuring the absolute majority of the voting capital.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&quot;<B>Market Price</B>&quot; means the Company&#8217;s
and its shares&#8217; price to be determined by a specialized company, using a recognized methodology or based on another criterion to
be defined by CVM.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0 0 0 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Chapter II &#8211; Disposal of Control
of the Company</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 41.</B> Disposal of Control
of the Company, directly or indirectly, whether in a single transaction, or through successive transactions, shall be entered into under
the condition precedent or condition subsequent that the Acquirer agrees to make a public offering to acquire the shares of the other
shareholders, with due regard for the same conditions and terms contemplated in current legislation, in order to assure them the same
treatment as that afforded to the Transferor Controlling Shareholder.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sole Paragraph.</B> Disposal of control
of the Bank depends on authorization from the Central Bank of Brazil.</P>

<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 42.</B> The public offering
referred in the preceding article should also be consummated:</P>


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<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I.</B> in cases with remunerated
assignment of share and other securities subscription rights or rights relating to convertible securities, resulting in the Disposal of
Company&#8217;s Control; or</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II.</B> in case of transfer of Control
of an entity holding the Company&#8217;s Controlling Power, in which case, the Selling Controlling Shareholder will be required to declare
to BM&amp;FBOVESPA the amount attributed to the Company in such transfer and attach a documentation corroborating it.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 43.</B> Whoever acquires Controlling
Power on account of a private instrument for the purchase of shares entered into with the Controlling Shareholder, involving any quantity
of shares, shall be obligated to:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>I.</B> make the public offering referred
to in article 41 of these Bylaws; and</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>II.</B> pay on the following terms
an amount equal to the difference between the public offering price and the amount paid for any shares acquired on the stock exchange
in the 6 (six) months preceding the date on which Controlling Power was acquired. This amount shall be distributed among all those who
sold the shares of the company in trading sessions at which the Acquirer made the purchases, in proportion to the net seller balance of
each one, and it shall be incumbent on the BM&amp;FBOVESPA to arrange for the distribution under the terms of its regulations.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>Chapter III &#8211; Cancellation of Registration as a
Public Company</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 44.</B> In the public offering
for the acquisition of shares which it is mandatory for the controlling shareholder or for the Company to make in order to cancel the
Company&#8217;s registration as a public Company, the minimum price offered shall reflect the economic value ascertained in an valuation
report referred to in article 45 of the Bylaws, with due regard for the applicable legal and regulatory rules.</P>

<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 45.</B> The valuation report
dealt with in Title X of these Bylaws shall be prepared by a specialized institution or company with proven experience and independent
from the Bank, its management and controlling shareholder, and from the latter&#8217;s decision-making power, and said valuation shall
also satisfy the requisites of paragraph 1 of article 8 of Law 6404/76 and contain the responsibility contemplated in paragraph 6 of said
article 8.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The selection of
the specialized institution or company responsible for determining the Bank&#8217;s Market Price referred to in Title X hereof is exclusively
incumbent of the Board of Directors.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The costs for preparing
the valuation report shall be born in full by those responsible for holding the public offering for the acquisition of the shares.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>Title IV &#8211; Ordinary Provisions</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 46.</B> It is permitted to formulate
a single public offering for the acquisition of shares, with the aim of one of the purposes contemplated in Title X of these Bylaws, or
in the regulations issued by the CVM, provided it is possible to render compatible the procedures of all modalities of public offering
for the acquisition of shares, and that those for whom the offering is intended do not incur losses and that authorization is obtained
from the CVM, when so required by applicable legislation.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Art.
47.</B> The Company or the shareholders responsible for making the public offerings for the acquisition of shares as contemplated in Title
X of these Bylaws, or in the regulations issued by the CVM, may ensure that these actually occur through the intermediary of any shareholder,
third party and, as the case may be, the Company. The Company or shareholder, as the case may be, are not exempted from the obligation
to make the public offering for the acquisition of shares until this has been concluded, with due regard for the applicable rules.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE XI</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>ARBITRATION COURT</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 48.</B> The Bank, its shareholders,
management and members of the Fiscal Council agree to resolve, via arbitration, all and any dispute or controversy that may arise among
them, especially involving or originating from the application, effectiveness, efficacy, interpretation, violation and their effects of
the provisions contained in the Arbitration Regulations of the Market Arbitration Chamber instituted by the BM&amp;FBOVESPA (&#8220;Arbitration
Regulations&#8221;), in the Regulations on Sanctions, in these Bylaws, in the provisions of Law 6.404/76, in the rules published by the
National Monetary Council, by the Central Bank of Brazil and by the CVM, in addition to the other rules applicable to the functioning
of the capital markets in general, before the Market Arbitration Chamber under the terms of its Arbitration Regulations.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The arbitration
procedures shall be instituted before the Market Arbitration Chamber under the terms of its Arbitration Regulations.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> Without prejudice
to the effectiveness of this arbitration clause, the request by the parties for urgent measures before the Arbitration Tribunal has convened
shall be forwarded to the courts in the manner of section 5.1.3 of the Arbitration Regulations of the Market Arbitration Chamber.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>Paragraph 3</B>. Brazilian law alone
shall apply to the merit of any and all controversy, as well as to the execution, interpretation and effectiveness of this arbitration
clause.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 4.</B> The arbitration
procedure shall take place in the city of S&atilde;o Paulo, State of S&atilde;o Paulo, where the arbitration award shall be delivered.
Arbitration shall be managed by the Market Arbitration Chamber itself, and shall be conducted and ruled on in accordance with the pertinent
provisions of the Arbitration Regulations.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE XII</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>LIQUIDATION</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 49.</B> The company shall be
liquidated as prescribed in law, and it shall be incumbent on the General Meeting to decide on how it is to be liquidated, appoint the
liquidator and the Fiscal Council, as the case may be, which must be in session during this period.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE XIII</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>ISSUANCE OF UNITS</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 50.</B> The Company may sponsor
the issue of share deposit certificates (hereinafter referred to as &#8220;Units&#8221; or individually as &#8220;Unit&#8221;).</P>


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<P STYLE="font: 12pt/13pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> Each Unit will correspond
to one (1) common share and one (1) preferred share issued by the Company, provided that the Board of Directors can define transitory
rules for Unit breakdown in view of the approval of capital increase by the Central Bank of Brazil. During such transition period, the
Units can be comprised of share subscription receipts. The Units will be book-entry.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The Units will be
issued in case of primary and/or secondary offering or as requested by the shareholders that so wish, subject to the rules to be determined
by the Board of Directors as set forth herein.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> Only shares free
from onus and liens may be the subject of deposits for issuing Units.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 51.</B> Except in the event
of cancellation of the Units, ownership of the shares represented by the Units shall only be transferred by transferring the Units.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 52. </B>The holder of the Units
shall, at any time, be entitled to request the depositary financial institution to cancel the Units and deliver the respective deposited
shares, with due regard for the rules to be established by the Board of Directors in accordance with the provisions of these Bylaws.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The respective holder
may be charged the cost of canceling and transferring the Unit.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> The Company&#8217;s
Board of Directors can, on any time, suspend, for an indefinite period, the possibility of issuance or cancellation of Units set forth
in article 50, paragraph 2 and in the main section of this article, respectively, in case of beginning of primary and/or secondary offering
of Units, in the domestic and/or foreign market, it being understood that, in this case, the suspension period cannot exceed one hundred
and eighty (180) days.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 3.</B> Units subject to
burdens, lien or encumbrances may not be canceled.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Article 53.</B> Holders of the Units
shall be entitled to the same rights and advantages as the deposited shares.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 1.</B> The right to attend
the Company&#8217;s General Meetings and exercise therein all prerogatives conferred upon the shares represented by the Units, upon confirmation
of ownership, is exclusively incumbent upon the holder of the Units. The holder of the Unit can be represented at the Company&#8217;s
General Meetings by an attorney appointed as set forth in article 6, Paragraph 2 hereof.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Paragraph 2.</B> In the event of
split, reverse split, bonus or issuance of new shares upon capitalization of profits or reserves, the following rules relating to the
Units shall be observed:</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>(i)</B> In the event of an increase
in the quantity of shares issued by the Company, the depositary financial institution shall register the deposit of the new shares and
shall credit new Units to the account of the respective holders, so as to reflect the new number of shares held by the Unit holders, in
all cases respecting the proportion of one (1) common share and one (1) preferred share issued by the Company for each Unit, while those shares for which Units
are not be issued shall be credited directly to the shareholders, without issuing Units.</P>


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<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>(ii)</B> In the event of a reduction
in the quantity of shares issued by the Company, the depositary financial institution shall debit the Unit deposit account of the holders
of the grouped shares, automatically canceling Units in a sufficient number to reflect the new number of shares held by Unit holders,
in all cases respecting the proportion of one (1) common share and one (1) preferred share issued by the Company for each Unit, while
any remaining shares for which Units are not to be issued shall be delivered directly to the shareholders, without issuing Units.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 54.</B> In the event of the
exercise of preemptive rights to subscribe shares issued by the Company, as the case may be, the depositary financial institution shall
create new Units in the register of book-form Units and shall credit those Units to the respective holders, so as to reflect the new quantity
of preferred shares and common shares issued by the Company and deposited in the underlying Unit deposit account, in all cases respecting
the proportion of one (1) common share and one (1) preferred share issued by the Company to each Unit, while those shares for which Units
are not to be constituted shall be credited directly to the shareholders without issuing Units. In the event of the exercise of the preemptive
right to subscribe other securities issued by the company, there shall be no automatic credit of Units.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 55.</B> The holders of Units
shall be entitled to receive shares arising from splits, mergers and amalgamations involving the Company. In any event, the Units shall
always be created or canceled, as the case may be, in the register of book-form Units on behalf of the BM&amp;FBOVESPA, as the respective
fiduciary owner, who shall credit them to the custody accounts of the respective holders of the Units. In cases where shares are allocated
to Unit holders, and such shares are not subject to the creation of new Units, these shares shall be deposited with the BM&amp;FBOVESPA,
in its capacity of fiduciary owner of the Units, which will credit them to the custody accounts of the respective holders.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>TITLE XIV</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: center"><B>GENERAL AND TRANSITORY PROVISIONS</B></P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Art. 56.</B> In cases not covered
in these Bylaws, there shall be recourse to the principles of right, and to the laws, decrees, resolutions and other acts enacted by the
competent authorities.</P>

<P STYLE="font: 10pt/13pt Verdana,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/16pt Verdana,sans-serif; margin: 0 0 0 56.7pt; text-align: center; text-indent: -56.7pt">* * *</P>

<P STYLE="font: 10pt/15pt Verdana,sans-serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>


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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SIGNATURE </B></FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV>&nbsp;</DIV>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. </FONT></DIV>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;April 22, 2025</FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center>

<TABLE style="WIDTH: 50%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="50%" colSpan=3>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><STRONG>Banco Santander (Brasil) S.A.</STRONG></FONT></DIV></TD></TR>

<TR>

   <TD height=16 width="5%"></TD>

   <TD width="43%"></TD>

   <TD width="2%"></TD></TR>

<TR>

   <TD vAlign=top width="5%">

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

   <TD vAlign=bottom width="43%" align=center>

   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;<B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt">Reginaldo Antonio Ribeiro</FONT></FONT></FONT></B></FONT>&nbsp;

   <HR align=left color=#000000 SIZE=1 noShade>

</DIV></TD>

   <TD width="2%"></TD></TR>

<TR>

   <TD width="5%"><FONT size=1>&nbsp;</FONT></TD>

   <TD vAlign=bottom width="43%" align=center>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT color=#000000 size=2 face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt">Reginaldo Antonio Ribeiro<BR>Officer without specific designation</FONT></FONT></FONT></B></FONT></FONT></FONT></B></FONT></FONT></FONT></B></FONT><FONT color=#000000 size=2 face="Times New Roman"><B><BR></B></FONT></DIV></TD>

   <TD width="2%"></TD></TR>

<TR>

   <TD width="5%"></TD>

   <TD width="43%"></TD>

   <TD width="2%"></TD></TR></TABLE></DIV>

<DIV>&nbsp;</DIV>

<DIV>&nbsp;</DIV>

<DIV align=center>

<TABLE style="WIDTH: 50%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="50%" colSpan=3>

   <DIV align=left></DIV></TD></TR>

<TR>

   <TD height=16 width="5%"></TD>

   <TD width="43%"></TD>

   <TD width="2%"></TD></TR>

<TR>

   <TD vAlign=top width="5%">

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

   <TD vAlign=bottom width="43%" align=center>

   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;<B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt">Gustavo Alejo Viviani</FONT></FONT></FONT></B></FONT>

   <HR align=left color=#000000 SIZE=1 noShade>

</DIV></TD>

   <TD width="2%"></TD></TR>

<TR>

   <TD width="5%"><FONT size=1>&nbsp;</FONT></TD>

   <TD vAlign=bottom width="43%" align=center>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt"><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt">Gustavo Alejo Viviani <BR><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="Calibri,sans-serif"><FONT style="FONT-FAMILY: Times New Roman"><FONT style="FONT-SIZE: 9pt">Vice - President Executive Officer</FONT></FONT></FONT></B></FONT></FONT></FONT></B></FONT></FONT></FONT></B></FONT><FONT color=#000000 size=2 face="Times New Roman"><B><BR></B></FONT></DIV></TD>

   <TD width="2%"></TD></TR></TABLE></DIV>

<DIV>&nbsp;</DIV>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
