<SEC-DOCUMENT>0001292814-20-004870.txt : 20201223
<SEC-HEADER>0001292814-20-004870.hdr.sgml : 20201223
<ACCEPTANCE-DATETIME>20201223104514
ACCESSION NUMBER:		0001292814-20-004870
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20201223
DATE AS OF CHANGE:		20201223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		201410490

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sbs20201119_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

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

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

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

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

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

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>REPORT OF FOREIGN ISSUER</B><BR><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 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=2 face="Times New Roman"><B>For&nbsp;November, 2020</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></DIV>

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

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

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Exact name of registrant as specified in its charter) </I></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>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Translation of Registrant's name into English) </I></FONT></DIV>

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

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<BR>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>Rua Costa Carvalho, 300 <BR>S&#227;o Paulo, S.P., 05429-900 <BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>

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<BR>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark whether the registrant files or will file <BR>annual reports under cover Form 20-F or Form 40-F. <BR><BR>Form 20-F ___X___ Form 40-F ______</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>

<P align=center><FONT size=2 face="'Times New Roman, Times, Serif'">Indicate by check mark whether the registrant by furnishing the <BR>information contained in this Form is also thereby furnishing the <BR>information to the Commission pursuant to Rule 12g3-2(b) under <BR>the Securities Exchange Act of 1934. <BR><BR>Yes ______ No ___X___</FONT></P>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">If "Yes" is marked, indicated below the file number assigned to the<BR>registrant in connection with Rule 12g3-2(b):</FONT> </DIV>


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<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 0; text-align: center; text-indent: 7.1pt"><IMG SRC="image_001.jpg" ALT=""><B>&nbsp;</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 0; text-align: center; text-indent: 7.1pt"><B>COMPANHIA
DE SANEAMENTO B&Aacute;SICO DO ESTADO DE S&Atilde;O PAULO - SABESP</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0.05pt 0 7.1pt; text-align: center">Corporate Taxpayer&rsquo;s ID
(CNPJ): 43.776.517/0001-80</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0.05pt 0 7.1pt; text-align: center">Company Registry (NIRE): 35.3000.1683-1</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0.05pt 0 7.1pt; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0.05pt 0 7.1pt; text-align: center"><B>MINUTES OF THE NINE HUNDRED
AND THIRTIETH MEETING OF THE<BR>
BOARD OF DIRECTORS</B></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 7.1pt; text-align: justify">November 12, 2020, at
11 a.m., horas, the undersigned members of the Company&rsquo;s Board of Directors listed below met via video conferencing at the
call of the Chairman of the Board of Directors, Mario Engler Pinto Junior, on an extraordinary basis, pursuant to the <I>caput</I>
and paragraph 6 of article 13 of the Bylaws of Companhia de Saneamento B&aacute;sico do Estado de S&atilde;o Paulo &ndash; SABESP
(<B>&ldquo;Issuer&rdquo;</B> or <B>&ldquo;Company&rdquo;</B>), located at Rua Costa Carvalho, n&ordm; 300, Pinheiros, in the city
and state of S&atilde;o Paulo, decided on the only matter on the agenda, &ldquo;<B>Approval of the conditions applicable to the
27th issue of simple, unsecured debentures</B>, not convertible into shares, in up to three (3) series for public distribution,
with restricted placement efforts, as per Instruction 476 of the Brazilian Securities and Exchange Commission (&ldquo;<B><U>CVM</U></B>&rdquo;)
of January 16, 2009, as amended (&ldquo;<B><U>Debentures</U></B>&rdquo;, &ldquo;<B><U>Offering</U></B>&rdquo; or &ldquo;<B><U>Issue</U></B>&rdquo;
and &ldquo;<B><U>CVM Instruction 476</U></B>&rdquo;, respectively), giving the floor to Rui de Britto &Aacute;lvares Affonso, Economic,
Finance and Investor Relations Officer, and to Mario Azevedo de Arruda Sampaio, Funding and Investor Relations Superintendent,
to present the matter, based on the Executive Board&rsquo;s Resolution 0380/2020, of November 10, 2020, FI Internal Communication
055/2020, of November 6, 2020, and on the Power Point presentation, all of which were filed at the meeting&rsquo;s electronic folder.
Pursuant to paragraph 1 of article 59 of Law 6,404, of December 15, 1976, as amended (&ldquo;<B><U>Brazilian Corporation Law</U></B>&rdquo;),
and items XIX an XXII of article 14 of the Bylaws, the Board members <B>unanimously approved </B>the conditions applicable to the
Offering, as described below, which will be detailed and regulated by the respective Debenture indenture:</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>1.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Issuer:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
Companhia de Saneamento B&aacute;sico do Estado de S&atilde;o Paulo &ndash; SABESP.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>2.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Total Issue Amount:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
The total Issue amount will be one billion reais (R$1,000,000,000.00) on the Issue Date (as defined below), and as per the Debenture
indenture (&ldquo;<B><U>Indenture</U></B>&rdquo;). </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>3.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Number of Series:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
The Issue will be carried out in up to 3 (three) series. The Debentures will be allocated between the series of the Issue using
the communication vessels system, where the number of Debentures of any series should be deducted from the total number of Debentures,
thus limiting the number of Debentures to be allocated in the other series, so that the sum of Debentures allocated in each series
actually issued should correspond to the total number of Debentures object of the Issue. A maximum of four hundred thousand (400,000)
First Series Debentures should be issued (as defined below) (&ldquo;<B><U>Communicating Vessels System</U></B>&rdquo;). The Debentures
object of the Offering distributed under the first series are hereinafter referred to as <B>&ldquo;<U>First Series Debentures</U>&rdquo;</B>,
the Debentures object of the Offering distributed under the second series are hereinafter referred to as <B>&ldquo;<U>Second Series
Debentures</U>&rdquo;</B> and the Debentures object of the Offering distributed under the</FONT></P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">third series are hereinafter
referred to as <B>&ldquo;<U>Third Series Debentures</U>&rdquo;</B>, and, together with the First Series Debentures and the Second
Series Debentures, the <B>&ldquo;<U>Debentures</U>&rdquo;</B>.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>4.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Placement and Distribution Procedure: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
Debentures will be subject to public distribution, with restricted placement efforts, pursuant to CVM Instruction 476, under a
firm placement guarantee to be provided by institutions that are part of the securities distribution system (&ldquo;<B><U>Coordinators</U></B>&rdquo;,
whereby the lead intermediary institution is the &ldquo;<B><U>Lead Coordinator</U></B>&rdquo;), individually and not jointly, in
the limit of their share, for the Debentures, in the total amount of one billion reais (R$1,000,000,000.00), under the &ldquo;Private
Agreement Instrument of Coordination, Placement and Public Distribution of Simple and Unsecured Debentures, Not Convertible into
Shares, in up to Three Series, under a Firm Placement Guarantee, of the 27th Issue of Companhia de Saneamento B&aacute;sico do
Estado de S&atilde;o Paulo &ndash; SABESP&rdquo;, to be entered into between the Issuer and the Coordinators (&ldquo;<B><U>Distribution
Agreement</U></B>&rdquo;). Partial Debenture distribution is not allowed. The Offering distribution plan shall be subject to the
procedure described in CVM Instruction 476 and the provisions of the Distribution Agreement. To this end, the Coordinators may
approach a maximum of up to seventy-five (75) Professional Investors, as defined in articles 9-A and 9-C of CVM Instruction 539,
of November 13, 2013, as amended (&ldquo;<B><U>CVM Instruction 539</U></B>&rdquo;), and the Debentures may be subscribed or acquired
by a maximum of fifty (50) Professional Investors. Upon subscription and payment of the Debentures, each Professional Investor
will sign a statement including, among others, that they: (i) carried out their own analysis regarding the Issuer&rsquo;s payment
capacity; (ii) are aware that, among others, (a) the Offering was not registered with CVM, (b) the Offering must be registered
with ANBIMA, and (c) the Debentures are subject to trading restrictions, as provided for in the Indenture and applicable regulation;
and (iii) expressly agree with all the terms and conditions of the Issue and Offering.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>5.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Bookbuilding Process: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
bookbuilding process, organized by the Coordinators, with no minimum or maximum lots, will be carried out in order to determine
demand for the Debentures, as per article 3 of CVM Instruction 476 at a maximum number of four hundred thousand (400,000) First
Series Debentures (&ldquo;<B><U>Bookbuilding Process</U></B>&rdquo;) so as to define, together with the Issuer: (i) the number
of series of the Issue; (ii) the number of Debentures to be allocated in each Issue series, as per the Communicating Vessels System;
and (iii) the Remuneration of the First Series (as defined below), the Remuneration of the Second Series (as defined below) and
the Remuneration of the Third Series (as defined below). The result of the Bookbuilding Process will be ratified through an amendment
to the Indenture, duly approved by a corporate act of the Issuer&rsquo;s Board of Directors, with no need for any additional corporate
approval by the Debenture Holders at a Debenture Holders&rsquo; General Meeting (&ldquo;<B><U>DHGM</U></B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>6.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Deposit for Distribution and Trading</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The Debentures will be deposited for: (a)&nbsp;distribution in the primary market through the MDA &ndash; Asset Distribution Module
(&ldquo;<B><U>MDA</U></B>&rdquo;), managed and operated by B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o &ndash; CETIP UTVM Segment
(&ldquo;<B><U>B3</U></B>&rdquo;), and financially settled by B3; and (b) trading in the secondary market through CETIP21 &ndash;
Securities (&ldquo;<B><U>CETIP21</U></B>&rdquo;), managed and operated by B3, with negotiations financially settled and the Debentures
held in electronic</FONT></P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">custody at B3. Notwithstanding
what is described in this item, the Debentures may only be traded in regulated securities markets after ninety (90) days from each
date of subscription or acquisition by a Professional Investor, as per article 13 of CVM Instruction 476, and provided that the
Issuer meets the obligations set forth in article 17 of CVM Instruction 476, in item II of article 13 of CVM Instruction 476 in
case of exercise of firm guarantee by the Coordinators, and in the <I>caput</I> of article 15 of CVM Instruction CVM&nbsp;476 regarding
Debenture trading, as well as the exception set forth in its paragraph 1, as applicable.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>7.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Allocation of Proceeds</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The proceeds from the Issue will be used to refinance financial commitments due in 2021 and to recompose the Issuer&rsquo;s cash.
</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>8.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Issue Date: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">For
all legal purposes, the Debenture issue date will be December 15, 2020 (&ldquo;<B><U>Issuance Date</U></B>&rdquo;). </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>9.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Type, Format and Convertibility</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The Debentures shall be registered and book-entry, simple, i.e. not convertible into shares issued by the Company, and without
the issue of certificates or provisional certificates.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>10.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Type:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
Unsecured.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>11.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Term and Maturity Date: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">First
Series Debentures will mature in three (3) years as from the Issue Date, i.e. December 15, 2023 (&ldquo;<B><U>First Series Maturity
Date</U></B>&rdquo;), Second Series Debentures will mature in five (5) years as from the Issue Date, i.e. December 15, 2025 (&ldquo;<B><U>Second
Series Maturity Date</U></B>&rdquo;) and Third Series Debentures will mature in seven (7) years as from the Issue Date, i.e. December
15, 2027 (&ldquo;<B><U>Third Series Maturity Date</U></B>&rdquo; and, together with the First Series Maturity Date and the Second
Series Maturity Date, &ldquo;<B><U>Debentures Maturity Dates</U></B>&rdquo;). Except in the events of: (i) redemption of First
Series Debentures, Second Series Debentures and Third Series Debentures, as applicable, in case of lack or inapplicability of rate,
as provided for in the Indenture; (ii) Optional Acquisition (as defined below), (iii) Total Early Redemption (as defined below),
(iv) Optional Extraordinary Amortization of the Debentures (as defined below), (v) Early Redemption Offer (as defined below), and/or
(vi) early maturity of the Debentures, as provided for in the Indenture, the Issuer undertakes to: (a) on the First Series Maturity
Date, pay the First Series Debentures at their Face Value or balance of the Face Value, as applicable, plus First Series Remuneration
and any due and unpaid amounts, calculated as per the Indenture; (b) on the Second Series Maturity Date, pay the Second Series
Debentures at their Face Value or balance of the Face Value, as applicable, plus Second Series Remuneration and any amounts due
and unpaid, calculated as per the Indenture; and (c) on the Third Series Maturity Date, pay the Third Series Debentures at their
Face Value or balance of the Face Value, as applicable, plus Third Series Remuneration and any amounts due and unpaid, calculated
as per the Indenture.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>12.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Face Value: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
face value of the Debentures will be R$1,000.00 (one thousand reais) on the Issue Date (&ldquo;<B>Face Value</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>13.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Guarantee:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
None.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>14.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Number of Debentures: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">One
million (1,000,000) Debentures, in up to three (3) series. The number of Debentures to be allocated in each series will be defined
in accordance with the</FONT></P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">Bookbuilding Process. At the
most four hundred thousand (400,000) First Series Debentures will be issued.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>15.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Amortization of the Face Value: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">Except
in the events of: (i) redemption of First Series Debentures, Second Series Debentures and Third Series Debentures, as applicable,
in case of lack or inapplicability of rate, as provided for in the Indenture; (ii) Optional Acquisition (as defined below), (iii)
Total Early Redemption (as defined below), (iv) Optional Extraordinary Amortization of the Debentures (as defined below), (v) Early
Redemption Offer (as defined below), and/or (vi) early maturity of the Debentures, as provided for in the Indenture, the Issuer
undertakes to: (a) pay the Face Value of First Series Debentures (or balance of the Face Value of First Series Debentures, as applicable)
in a single installment, on the First Series Maturity Date; (b) the balance of the Face Value of Second Series Debentures will
be amortized in two (2) installments, the first one on December 15, 2024, corresponding to fifty percent (50.0000%) of the balance
of the Face Value of Second Series Debentures and the second on the Second Series Maturity Date, corresponding to one hundred percent
(100.0000%) of the balance of the Face Value of Second Series Debentures; and (c) the balance of the Face Value of Third Series
Debentures will be amortized in two (2) installments, the first one on December 15, 2026, corresponding to fifty percent (50.0000%)
of the balance of the Face Value of Third Series Debentures and the second on the Third Series Maturity Date, corresponding to
one hundred percent (100.0000%) of the balance of the Face Value of Third Series Debentures. </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>16.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Remuneration: </FONT></B></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>16.1. Monetary
Restatement of the Debentures.</B> The Face Value of the Debentures will not be restated using any index.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>16.2 Remuneration:</B></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>(a) Remuneration
of First Series Debentures: </B>First Series Debentures will be entitled to remuneration (&ldquo;<B><U>First Series Remuneration</U></B>&rdquo;)
corresponding to one hundred percent (100%) of the accumulated variation of the average daily rate of one-day <I>over extragrupo
</I>DI interbank deposits (&ldquo;<B><U>DI Rate</U></B>&rdquo;), expressed as an annual percentage, based on two hundred and fifty-two
(252) Business Days, calculated and disclosed by B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o, in the daily bulletin available
on its website (http://www.b3.com.br), plus a spread or surcharge to be defined in the Bookbuilding Process, limited to one point
six percent (1.60%) per year, based on two hundred and fifty-two (252) Business Days. First Series Remuneration will be calculated
exponentially and cumulatively <I>pro rata temporis</I>, per Business Days elapsed, on the Face Value of First Series Debentures
(or balance of the Face Value of First Series Debentures, as applicable), from the First Payment Date (as described below) or the
last Payment Date of First Series Remuneration (as described below), as applicable, and paid at the end of each Profitability Period
(as defined below). The calculation of First Series Remuneration will be carried out according to the formula described in the
Indenture;</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>(b) Remuneration
of Second Series Debentures: </B>Second Series Debentures will be entitled to remuneration (&ldquo;<B><U>Second Series Remuneration</U></B>&rdquo;)
corresponding to one hundred percent (100%) of</P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">the accumulated variation of
the DI Rates, expressed as an annual percentage, based on two hundred and fifty-two (252) Business Days, calculated and disclosed
by B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o, in the daily bulletin available on its website (http://www.b3.com.br), plus a
spread or surcharge to be defined in the Bookbuilding Process, limited to one point eight percent (1.80%) per year, based on two
hundred and fifty-two (252) Business Days. Second Series Remuneration will be calculated exponentially and cumulatively <I>pro
rata temporis</I>, per Business Days elapsed, on the Face Value of Second Series Debentures (or balance of the Face Value of Second
Series Debentures, as applicable), from the First Payment Date or the last Payment Date of Second Series Remuneration, as applicable,
and paid at the end of each Profitability Period. The calculation of Second Series Remuneration will be carried out according to
the formula described in the Indenture;</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>(c) Remuneration
of the Third Series Debentures: </B>Third Series Debentures will be entitled to remuneration (&ldquo;<B><U>Third Series Remuneration</U></B>&rdquo;
and, together with First Series Remuneration and Second Series Remuneration, &ldquo;<B><U>Remuneration&rdquo;</U></B>), corresponding
to one hundred percent (100%) of the accumulated DI Rates, expressed as annual percentage, based on two hundred and fifty-two (252)
Business Days, calculated and disclosed by B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o, in the daily bulletin available on its
website (http://www.b3.com.br), plus a spread or surcharge to be defined in the Bookbuilding Process, limited to two point twenty-five
percent (2.25%) per year, based on two hundred and fifty-five (252) Business Days. Third Series Remuneration will be calculated
exponentially and cumulatively <I>pro rata temporis</I>, per Business Days elapsed, on the Face Value of Third Series Debentures
(or balance of the Face Value of Third Series Debentures, as applicable), from the First Payment Date or the last Payment Date
of Third Series Remuneration, as applicable, and paid at the end of each Profitability Period. The calculation of Third Series
Remuneration will be carried out according to the formula described in the Indenture;</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>(d) Profitability
Period:</B> In order to calculate First Series Remuneration, Second Series Remuneration and Third Series Remuneration, the &ldquo;<B><U>Profitability
Period</U></B>&rdquo; is defined as the period of time starting on the First Payment Date, including this date, of the respective
series, in the case of the first Profitability Period, or the prior Remuneration Payment Date, including this date, in the case
of the other Profitability Periods, and ending on the Remuneration Payment Date, excluding this date, corresponding to said period.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>17.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Payment of Remuneration: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">Except
in the events of: (i) redemption of First Series Debentures, Second Series Debentures and Third Series Debentures, as applicable,
in case of lack or inapplicability of rate, as provided for in the Indenture; (ii) Optional Acquisition (as defined below), (iii)
Total Early Redemption (as defined below), (iv) Optional Extraordinary Amortization of the Debentures (as defined below), (v) Early
Redemption Offer (as defined below), and/or (vi) early maturity of the Debentures, as provided for in the Indenture, the amounts
corresponding to First Series Remuneration, Second Series Remuneration and Third Series Remuneration must be paid semi-annually,
on the 15th of December and June of each year, the first payment due on June 15, 2021 and the last one due on the First Series
Maturity Date, in the case of First Series Debentures, on the Second Series Maturity Date, in the case of Second Series Debentures
and on the Third Series</FONT></P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">Maturity Date, in the case of
Third Series Debentures (each of them a &ldquo;<B><U>Remuneration Payment Date</U></B>&rdquo;).</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>18.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Payment Location: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
payments to which the Debentures are entitled will be made by the Issuer on the respective maturity date using, as applicable:
(a) the procedures adopted by B3, for Debentures held in electronic custody at B3; and/or (b) the procedures adopted by the Bookkeeping
Agent for Debentures not held in electronic custody at B3 (&ldquo;<B><U>Payment Location</U></B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>19.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Extension of Terms</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The terms referring to the payment of any obligation related to the Debentures shall be considered extended until the first (1st)
subsequent Business Day, if the maturity date falls on a day on which there is no commercial or banking business hours at the Payment
Location or in the city of S&atilde;o Paulo, state of S&atilde;o Paulo, without any increase to the amounts payable, except when
payments must be carried out through B3, in which case there will only be extension when the payment date falls on a national holiday,
a Saturday and/or a Sunday.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>20.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Default Charges</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
Without prejudice to the Remuneration, in case of late payment of any amount due to Debenture Holders, the overdue debts will be
subject to non-compensatory late charge of two percent (2%) on the amount due and interest for late payment calculated from the
date of default until the actual payment date, at the rate of one percent (1%) per month on the overdue amount, regardless of any
notice, notification or court or out-of-court notification, in addition to expenses incurred by the Debenture Holders for the collection
of their credits (&ldquo;<B><U>Default Charges</U></B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>21.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Subscription Price and Payment: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
Debentures will be paid in cash upon subscription, in local currency, in the primary market, at their Face Value on the first payment
date (&ldquo;<B><U>First Payment Date</U></B>&rdquo;) and, if the Debentures are paid in more than one date, those that are not
paid-in on the First Payment Date must be paid at their Face Value plus Remuneration, calculated <I>pro rata temporis</I> from
the First Payment Date to the date of actual payment, using eight (8) decimal places and no rounding up or down, and the subscription
price on the First Payment Date and subsequent payment dates may incur premium or discount, provided that, if applicable, the premium
or discount will be the same for all Debentures of the respective series in each payment date. </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>22.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Renegotiation</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The Debentures shall not be renegotiated.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>23.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Proof of Ownership of Debentures: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
Issuer will not issue certificates or provisional certificates for the Debentures. For all legal purposes, the ownership of the
Debentures will be proven by a statement issued by the bookkeeping agent. In addition, a statement issued by B3 in name of the
Debenture Holder, for Debentures held in electronic custody at B3, will be considered as proof of ownership of the Debentures.</FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>24.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Risk Rating:</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">
The Issuer will contract a first-tier risk rating agency (Standard &amp; Poor&rsquo;s, Moody&rsquo;s or Fitch Ratings) to assign
a rating to the Debentures. </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>25.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Optional Acquisition</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The Issuer may, at any time, acquire the Debentures, as per paragraph 3 of article 55 of Brazilian Corporation Law (&ldquo;<B><U>Optional
Acquisition</U></B>&rdquo;), for: (i) an amount equal to or lower than their respective Face Value, and such fact must be included
in the Management Report and the Issuer&rsquo;s financial statements; or (ii) an amount higher than their</FONT></P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">respective Face Value, provided
that it complies with any rules issued by CVM, including the terms of CVM Instruction 620, of March 17, 2020 (&ldquo;<B><U>CVM
Instruction 620</U></B>&rdquo;). The Debentures acquired by the Issuer, according to this item, may, at the Issuer&rsquo;s discretion,
be: (i) cancelled, subject to a resolution by the Issuer; (ii) held in treasury by the Issuer; or (iii) once again placed on the
market, observing the trading restrictions provided for in CVM Instruction 476. The Debentures acquired by the Issuer to be held
in treasury under the terms of this item, if and when placed again on the market, will be entitled to the same Remuneration of
the other Debentures of the respective series.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>26.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Total Early Redemption: </FONT></B></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>26.1 </B>The
early redemption of First Series Debentures may occur any time, at the Issuer&rsquo;s Discretion,, as from the twenty-fourth (24th)
month from the Issue Date, i.e. December 15, 2022, including this date, for all First Series Debentures (&ldquo;<B><U>Total Early
Redemption of First Series Debentures</U></B>&rdquo;). The Total Early Redemption of First Series Debentures shall occur upon payment
of the Face Value of First Series Debentures (or balance of the Face Value of First Series Debentures, as applicable), plus First
Series Remuneration, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment Date of First Series Remuneration,
as applicable, until the date of actual redemption and other charges due and unpaid until said date, plus premium to First Series
Debenture Holders, equivalent to zero point three percent (0.30%) per year, for the Remaining Period (as defined in the Indenture),
to be paid to First Series Debenture Holders, as per procedure adopted by B3, for First Series Debentures held in electronic custody
at B3, or by the Bookkeeping Agent, for First Series Debentures not held in electronic custody at B3, calculated based on the formula
described in the Indenture.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>26.2 </B>The
early redemption of Second Series Debentures may occur any time, at the Issuer&rsquo;s discretion, as from the fortieth (40th)
month from the Issue Date, i.e. April 15, 2024, including this date, for all Second Series Debentures (&ldquo;<B><U>Total Early
Redemption of Second Series Debentures</U></B>&rdquo;). The Total Early Redemption of Second Series Debentures shall occur upon
payment of the Face Value of Second Series Debentures (or balance of the Face Value of Second Series Debentures, as applicable),
plus Second Series Remuneration, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment Date of Second
Series Remuneration, as applicable, until the date of actual redemption and other charges due and unpaid until said date, plus
premium to Second Series Debenture Holders, equivalent to zero point three percent (0.30%) per year, for the Remaining Period (as
defined in the Indenture), to be paid to Second Series Debenture Holders, as per procedure adopted by B3, for Second Series Debentures
held in electronic custody at B3, or by the Bookkeeping Agent, for Second Series Debentures not held in electronic custody at B3,
calculated based on the formula described in the Indenture.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>26.3</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
early redemption of Third Series Debentures may occur any time, at the Issuer&rsquo;s Discretion,, as from the sixtieth (60th)
month from the Issue Date, i.e. December 15, 2025, including this date, for all Third Series Debentures (&ldquo;<B><U>Total Early
Redemption of Third Series Debentures</U></B>&rdquo; and, together with Total Early Redemption of First Series Debentures and Total
Early Redemption of Second Series Debentures, &ldquo;<B><U>Total Early Redemption</U></B>&rdquo;). The Total Early Redemption</P>


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<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify">of Third Series Debentures shall
occur upon payment of the Face Value of Third Series Debentures (or balance of the Face Value of Third Series Debentures, as applicable),
plus Third Series Remuneration, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment Date of Third Series
Remuneration, as applicable, until the date of actual redemption and other charges due and unpaid until said date, plus premium
to Third Series Debenture Holders, equivalent to zero point three percent (0.30%) per year, for the Remaining Period (as defined
in the Indenture), to be paid to Third Series Debenture Holders, as per procedure adopted by B3, for Third Series Debentures held
in electronic custody at B3, or by the Bookkeeping Agent, for Third Series Debentures not held in electronic custody at B3, calculated
based on the formula described in the Indenture.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>27.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Optional Extraordinary Amortization:</FONT></B></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>27.1</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
optional extraordinary amortization of the Face Value of First Series Debentures (or balance of the Face Value of First Series
Debentures, as applicable), limited to ninety percent (90%), may occur any time, at the Issuer&rsquo;s discretion, as from the
twnety-fourth (24th) month from the Issue Date, i.e. December 15, 2022, including this date, for all First Series Debentures, on
a proportional basis (&ldquo;<B><U>Optional Extraordinary Amortization of First Series Debentures</U></B>&rdquo;). The Optional
Extraordinary Amortization of First Series Debentures shall occur upon payment of (i) portion of the Face Value of First Series
Debentures (or portion of the balance of the Face Value of First Series Debentures, as applicable) to be amortized, plus First
Series Remuneration on the portion to be amortized, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment
Date of First Series Remuneration, as applicable, to the actual date of the Optional Extraordinary Amortization of First Series
Debentures and other charges due and unpaid until the aforementioned date; and (ii) premium corresponding to zero point three percent
(0.30%) per year, for the Remaining Period (as defined in the Indenture), on the value indicated in item &ldquo;(i)&rdquo; above,
calculated based on the formula described in the Indenture.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>27.2</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
optional extraordinary amortization of the Face Value of Second Series Debentures (or balance of the Face Value of Second Series
Debentures, as applicable), limited to ninety percent (90%), may occur any time, at the Issuer&rsquo;s discretion, as from the
fortieth (40th) month from the Issue Date, i.e. April 15, 2024, including this date, for all Second Series Debentures, on a proportional
basis (&ldquo;<B><U>Optional Extraordinary Amortization of Second Series Debentures</U></B>&rdquo;). The Optional Extraordinary
Amortization of Second Series Debentures shall occur upon payment of (i) portion of the Face Value of Second Series Debentures
(or portion of the balance of the Face Value of Second Series Debentures, as applicable) to be amortized, plus Second Series Remuneration
on the portion to be amortized, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment Date of Second
Series Remuneration, as applicable, to the actual date of the Optional Extraordinary Amortization of Second Series Debentures and
other charges due and unpaid until the aforementioned date; and (ii) premium corresponding to zero point three percent (0.30%)
per year, for the Remaining Period (as defined in the Indenture), on the value indicated in item &ldquo;(i)&rdquo; above, calculated
based on the formula described in the Indenture.</P>


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<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><B>27.3</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
optional extraordinary amortization of the Face Value of Third Series Debentures (or balance of the Face Value of Third Series
Debentures, as applicable), limited to ninety percent (90%), may occur any time, at the Issuer&rsquo;s discretion, as from the
sixtieth (60th) month from the Issue Date, i.e. December 15, 2025, including this date, for all Third Series Debentures, on a proportional
basis (&ldquo;<B><U>Optional Extraordinary Amortization of Third Series Debentures</U></B>&rdquo;). The Optional Extraordinary
Amortization of Third Series Debentures shall occur upon payment of (i) portion of the Face Value of Third Series Debentures (or
portion of the balance of the Face Value of Third Series Debentures, as applicable) to be amortized, plus Third Series Remuneration
on the portion to be amortized, calculated <I>pro rata temporis</I> from the First Payment Date or last Payment Date of Third Series
Remuneration, as applicable, to the actual date of the Optional Extraordinary Amortization of Third Series Debentures and other
charges due and unpaid until the aforementioned date; and (ii) premium corresponding to zero point three percent (0.30%) per year,
for the Remaining Period (as defined in the Indenture), on the value indicated in item &ldquo;(i)&rdquo; above, calculated based
on the formula described in the Indenture.</P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>28.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Early Redemption Offer: </FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">The
Issuer may, at its sole discretion, offer total early redemption of the Debentures of one, two or all series, to all Debenture
Holders of all series or to all the Debenture Holders of the respective series to be redeemed, as established by the Issuer, at
its sole discretion, without distinction, ensuring the Debenture Holders the prerogative to accept or not the redemption of the
Debentures held by them, as per the Indenture and applicable law, including, but not limited to, Brazilian Corporation Law (&ldquo;<B><U>Early
Redemption Offer</U></B>&rdquo;), as provided for in the Indenture. </FONT></P>

<P STYLE="font: 10pt/150% Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>29.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Early Maturity</FONT></B><FONT STYLE="font: 9pt Verdana, Helvetica, Sans-Serif">:
The early maturity of the Debentures shall be subject to the events and terms to be provided for in the Indenture.</FONT></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 0in">The Board
of Directors also authorized the members of the Company&rsquo;s Executive Board, pursuant to legal and statutory provisions, to
perform any and all acts related to the 27th issue of simple, unsecured debentures, not convertible into shares, in up to two (3)
series, including, but not limited to, negotiating and executing the Indenture and any amendments thereto, including the amendment
to the Indenture that will ratify the result of the Bookbuilding Process, as well as the Distribution Contract, sign all documents
and perform all acts necessary for this purpose, being also able to define, together with the Coordinators, the number of series
of the Issue and the number of Debentures to be actually issued in each series, respecting the maximum number of First Series Debentures,
and establish the Remuneration of the Debentures, after the completion of the Bookbuilding Process to be carried out by the Coordinators,
within the limits and parameters established herein. Finally, the Board of Directors ratified all the acts related to the 27th
issue previously performed by the Executive Board.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 7.1pt; text-align: justify">After the floor was
opened and there were no other pronouncements, the Chairman, Mario Engler Pinto Junior, adjourned the meeting for the drawing up
of these minutes, which were read, found to be in compliance, signed by me, Marialve de Sousa Martins, Executive Secretary of the
Board of</P>


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<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 7.1pt; text-align: justify">Directors, and by the
following attending Board members: <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 150%">MARIO
ENGLER PINTO JUNIOR, BENEDITO PINTO FERREIRA BRAGA JUNIOR, CLAUDIA POLTO DA CUNHA, EDUARDO DE FREITAS TEIXEIRA, FRANCISCO LUIZ
SIBUT GOMIDE, FRANCISCO VIDAL LUNA, LUCAS NAVARRO PRADO, REINALDO GUERREIRO, WALTER LUIS BERNARDES ALBERTONI and WILSON NEWTON
DE MELLO NETO.</FONT></P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 12pt 0.05pt 0 7.1pt; text-align: justify">This is a free English
translation of the minutes drawn up in the Book of Minutes of the Company's Board of Directors.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 7.1pt; text-align: justify">S&atilde;o Paulo, November
12, 2020.</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 6pt 0.05pt 0 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 6pt 0.05pt 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.05pt; padding-left: 7.1pt; font: 11pt/115% Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%"><B>Mario Engler Pinto Junior</B></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 0.05pt; padding-left: 7.1pt; font: 11pt/115% Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%"><B>Marialve de Sousa Martins</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; padding-right: 0.05pt; padding-left: 7.1pt; text-align: justify"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%">Chairman of the Board of Directors</FONT></TD>
    <TD STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; padding-right: 0.05pt; padding-left: 7.1pt; text-align: justify"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%">Secretary of the Board of Directors</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt/150% Verdana, Helvetica, Sans-Serif; margin: 6pt 0.05pt 0 7.1pt; text-align: justify">&nbsp;</P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U></U></B></FONT>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV>

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

<DIV align=justify><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, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;November 19, 2020</FONT></DIV>

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

<DIV align=center>

<TABLE style="WIDTH: 70%" cellSpacing=0 cellPadding=0>



<TR>

   <TD vAlign=top width="50%" colSpan=3>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>

<TR>

   <TD height=16></TD>

   <TD height=16></TD>

   <TD height=16></TD></TR>

<TR>

   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;<FONT style="FONT-FAMILY: times new roman" size=3>Rui de Britto &#193;lvares Affonso</FONT>&nbsp;&nbsp;&nbsp;&nbsp;

   <HR align=left color=#000000 SIZE=1 noShade>

</TD>

   <TD></TD></TR>

<TR>

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

   <TD vAlign=bottom width="53%" align=center>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

   <TD></TD></TR></TABLE></DIV>

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

<P>&nbsp;</P>

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

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="'Times New Roman, Times, Serif'">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

<HR align=left color=#000000 SIZE=2 noShade>

</DIV>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
