<SEC-DOCUMENT>0001292814-24-002494.txt : 20240620
<SEC-HEADER>0001292814-24-002494.hdr.sgml : 20240620
<ACCEPTANCE-DATETIME>20240620132024
ACCESSION NUMBER:		0001292814-24-002494
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240630
FILED AS OF DATE:		20240620
DATE AS OF CHANGE:		20240620

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]
		ORGANIZATION NAME:           	01 Energy & Transportation
		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:		241055260

	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>sbs20240619_6k2.htm
<DESCRIPTION>6-K
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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 STYLE="text-align: center"><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;June, 2024</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></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></P>

<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>

<P></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: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>DISCLAIMER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left">This is a draft of the Company&rsquo;s Bylaws
approved at the Extraordinary Shareholders&rsquo; Meeting held on May 27, 2024, under the condition precedent of the public offering
for the distribution of shares issued by the Company addressed to by State Law 17,853/2023 (<B>&ldquo;Public Privatization Offering&ldquo;</B>)
to provide the provisions applicable to the Company after its privatization.&#8239;</P>
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5pt; text-align: justify"></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER I</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CORPORATE NAME, HEADQUARTERS, PURPOSE,
AND DURATION</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 1 </B>&ndash; Companhia de Saneamento
B&aacute;sico do Estado de S&atilde;o Paulo &ndash; SABESP (&ldquo;<B>Company</B>&rdquo;) is a publicly-held company governed by these
Bylaws, Federal Law 6,404, of December 15, 1976, and other applicable legal provisions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Given that
the Company is listed in the Novo Mercado special listing segment of B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o (&ldquo;<B>B3</B>&rdquo;),
the Company, its shareholders, including the controlling shareholder, Management, and Fiscal Council members are subject to the provisions
of B3&rsquo;s Novo Mercado Regulation (&ldquo;<B>Novo Mercado Regulation</B>&rdquo;).</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Company&rsquo;s
duration is indefinite.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The Company
is headquartered and has its jurisdiction in the City of S&atilde;o Paulo, State of S&atilde;o Paulo.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; To achieve
its corporate purpose, the Company may open, install, maintain, transfer, or close branches, facilities, agencies, subsidiaries, offices,
representative offices or appoint representatives anywhere in the Brazilian or foreign territory, under legal and regulatory provisions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 2 </B>&ndash; The Company&rsquo;s
corporate purpose is to provide basic sanitation services to achieve the universalization of water supply and sewage services in its area
of operation in the S&atilde;o Paulo State, including the following activities in Brazil and abroad:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">water supply and sewage services;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">urban rainwater drainage and management; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">urban cleaning and solid waste management; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">planning, operation, and maintenance of production systems;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">storage, conservation, and commercialization of energy
for itself or third parties; and </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">commercialization of services, products, benefits, and
rights that directly or indirectly arise from its assets, enterprises, and activities, as well as other activities related to any of the
previously mentioned activities.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The Company
may establish wholly-owned subsidiaries, participate, as a partner or shareholder, of any other company or enterprise, participate in
investment funds, and associate in any form with other public or private legal entities, including through the formation of consortium
or subscribing to a minority or majority share of the capital stock.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER II</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CAPITAL STOCK AND SHARES</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 3 </B>&ndash; The Company&rsquo;s
capital stock is R$ 15,000,000,000.00 (fifteen billion reais), fully subscribed and paid in, divided into 683,509,869 (six hundred and
eighty-three million, five hundred and nine thousand, eight hundred and sixty-nine) single-class common shares, all registered, book-entry,
and with no par value.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The issue
of beneficiary parties and preferred shares is prohibited, except for 1 (one) special class preferred share addressed to in Article 5
below.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Company
may directly charge shareholders for the cost of the share transfer service, within the maximum limits established by current regulations,
and may authorize the same charge by the depositary institution responsible for maintaining the book-entry share register.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The Company
is authorized to increase its capital stock up to the limit of 1,187,144,787 (one billion, one hundred and eighty-seven million, one hundred
and forty-four thousand, seven hundred and eighty-seven)</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify">registered, book-entry common shares, with
no par value, by resolution of the Board of Directors, regardless of statutory reform.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; In the case
mentioned in Paragraph three above, it will be the Board of Directors' responsibility to establish the issue price and the number of common
shares to be issued, as well as the subscription, placement, and payment conditions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; Within the
authorized capital limit, the Board of Directors may also (i) resolve on the issue of subscription warrants; (ii) according to a remuneration
plan approved by the General Meeting, grant stock options to administrators, employees, and service providers, without shareholders having
preemptive rights in the granting of options or subscription of the respective shares; (iii) approve capital increases by capitalizing
profits or reserves, with or without bonuses in shares; and (iv) resolve on the issue of debentures convertible into shares;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 4 </B>&ndash; Each common share
will correspond to one vote in General Meeting resolutions, subject to the voting rights limit provided in Article 6.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 5</B> &ndash; The special class
preferred share exclusively held by the S&atilde;o Paulo State, with no voting rights, will have veto rights on the social resolutions
related to the following matters, under State Law 17,853, of December 08, 2023: (i) change of the Company's name and headquarters; (ii)
change of the corporate purpose that implies the suppression of the primary activity of providing water supply and sewage services; and
(iii) limits on the exercise of voting rights attributed to shareholders or Group of Shareholders, as defined in Article 6 below.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The special
class preferred share will be automatically extinguished if the S&atilde;o Paulo State ceases to hold common shares representing at least
10% (ten percent) of the Company's capital stock.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 6</B> &ndash; No shareholder
or Group of Shareholders (as defined in Paragraph three below), whether Brazilian or foreign, public or private, is allowed to exercise
voting rights for more than 30% (thirty percent) of the total number of shares into which the Company's total voting capital is divided,
regardless of the shareholder or Group of Shareholders participation in the capital stock.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The Chair
of the General Meeting must ensure compliance with the rules provided in this Article 6 and inform the number of votes that each attending
shareholder or Group of Shareholders may exercise.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; Votes exceeding
the limits outlined in this Article 6 will not be counted.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; For the
purposes of these Bylaws, &ldquo;Group of Shareholders &quot; means the group of two or more persons or any other forms of organization
(a) that are bound by vote agreements of any nature, including shareholders' agreements, either directly or through controlled, controlling,
or under common control persons (or any other forms of organization); or (b) that have control relationships between them; or (c) that
are under common control; or (d) in which one person directly or indirectly holds an equity stake equal to or greater than 15% of the
capital stock of the other person; or (e) between two persons, a third common investor who directly or indirectly holds an equity stake
equal to or greater than 15% of the capital stock of each of the two persons; or (f) that are managed or are under the management of the
same person or related parties; or (g) that share the majority of their administrators; or (h) whose employees are beneficiaries of the
same post-employment benefit plan; or (i) in which one is a post-employment benefit plan and the other is the person whose employees contribute
to that post-employment benefit plan.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; In the case
of investment funds with a common administrator or manager, only those whose investment and voting exercise policies in shareholders'
meetings, under the respective regulations, are under the responsibility of the administrator or manager, as applicable, on a discretionary
basis will be considered a Group of Shareholders.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; Shareholders
must keep the Company informed about their belonging to a Group of Shareholders under these Bylaws, if such Group of Shareholders holds,
in total, shares representing 30% (thirty percent) or more of the total voting capital.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 7 </B>&ndash; At the discretion
of the Board of Directors or the General Meeting, the period for exercising shareholders' preemptive rights may be excluded or reduced
in any issue of shares, debentures convertible into shares, and subscription warrants, whose placement is made through sale on the stock
exchange, public subscription, or exchange for shares in a public acquisition offer of control, as provided by law and these Bylaws.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 8 </B>&ndash; The shareholder's
delay in paying the subscribed capital will result in the collection of interest at 1% (one percent) per month, <I>pro rata temporis</I>,
monetary adjustment based on the variation of the General Market Price Index (IGP-M), disclosed by Funda&ccedil;&atilde;o Get&uacute;lio
Vargas (FGV), or another index reflecting the real loss of purchasing power of the currency in the period, to be indicated by the Company's
Board of Directors, at the shortest legally applicable frequency, and a fine of 10% (ten percent) on the value of the obligation, without
prejudice to other legal sanctions applicable.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER III</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">GENERAL MEETING</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 9 </B>&ndash; The General Meeting
shall be convened, installed, and make resolutions under the law on all matters within its competence and any others submitted to it for
resolution by the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The General
Meeting may be convened by the Chair of the Board of Directors or under the terms of the Law.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The General
Meeting shall preferably be presided over by the Chair of the Board of Directors or, in his/her absence, by any other Board member present.
The Chair of the Board of Directors may appoint another Board member to replace him/her in presiding over the General Meeting.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The Chair
of the General Meeting shall choose one or more secretaries from among those present, with the option of using the Company&rsquo;s own
advisors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; The General
Meeting minutes shall be drawn up in summary form, as provided for in paragraph 1 of Article 130 of Federal Law 6,404/1976.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; All documents
to be analyzed or discussed at the General Meeting must be made available to shareholders at the Company's headquarters, the Brazilian
Securities and Exchange Commission (&ldquo;<B>CVM</B>&rdquo;), and B3, at least 1 (one) month in advance.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph six </B>&ndash; Proof of shareholder
status and compliance with Paragraphs three and four of Article 6 above may be provided at any time until the opening of the General Meeting
by presenting the appropriate documents, including an identity document, a certificate issued by the financial institution holding the
book-entry shares informing the respective number, and in the case of a proxy appointment, the relevant power of attorney with notarized
signature issued less than one year.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER IV</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">COMPANY&rsquo;S MANAGEMENT</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 10 </B>&ndash; The Company shall
be managed by the Board of Directors and Executive Board.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER V</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">BOARD OF DIRECTORS</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 11 </B>&ndash; The Board of
Directors is a decision-making body responsible for the Company's superior guidance.</P>


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<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Composition, Investiture, and Term
of Office</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 12 </B>&ndash; The Board of
Directors shall be composed of 9 (nine) sitting members, elected and removable from office by the General Meeting, all with a unified
term of office of 2 (two) years from the date of election, with reelection allowed.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Whether by
the election mechanism under Paragraph two of Article 13 or by voting according to Article 141 of Federal Law 6,404/1976, the appointment
and election of members to the Company&rsquo;s Board of Directors by the S&atilde;o Paulo State, when acting individually, are limited
to a maximum of 3 (three) members, disregarding the appointments of independent members.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Board
of Directors shall have a Chair, elected by a majority vote of its members at the first Board of Directors&rsquo; meeting held immediately
after the investiture of such members, or whenever there is a vacancy or resignation of the Chair of the Board of Directors.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Independent Members</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 13 </B>&ndash; At least 3 (three)
members of the Board of Directors must be independent, as defined in the Novo Mercado Regulation, and the identification of those appointed
to the Board of Directors as independent members shall be decided at the General Meeting that elects them.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; An independent
member is also considered a member elected by minority shareholders, through a separate vote, under paragraphs 4 and 5 of Article 141
of Federal Law 6,404/1976 as long as there is a controlling shareholder.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; Except as
provided in Article 141 of Federal Law 6,404/1976, the election of members of the Board of Directors shall be based on the slate system,
with the applicable rules of eligibility provided by current legislation and regulation, these Bylaws, and the Company's nomination policy
being observed in any situation.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; Only slates
appointed (i) by the Board of Directors; or (ii) by any shareholder or group of shareholders, as provided for in Paragraph five below,
may run for election.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; On the date
of convening the General Meeting intended to elect the Board of Directors members, the Board of Directors must make available to the shareholders
the information relating to each member of the slate it has appointed, as required by current legislation and regulation, as well as by
the Company's nomination policy, including regarding the identification of candidates as independent under the Novo Mercado Regulation.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; Shareholders
or groups of shareholders wishing to propose another slate to compete for positions on the Board of Directors must submit to the Board
of Directors the information, documents, and declarations referred to in Paragraph four above, and the Company, after due verification,
shall disclose this information according to the terms and deadlines of current regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph six </B>&ndash; The same person
may be part of two or more slates, including the one appointed by the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph seven </B>&ndash; Each shareholder
may only vote for one slate, and the candidates from the slate that receive the highest number of votes at the General Meeting shall be
declared elected.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph eight </B>&ndash; In the event
of adopting the multiple-vote process, slate elections shall cease, and the candidates for the Board of Directors will be those in the
slates, as well as those appointed by shareholders for the multiple-vote process, provided that the information and declarations regarding
such candidates are presented to the General Meeting.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph nine </B>&ndash; If, after
the election of a Board of Directors member, any event occurs that constitutes a case of impediment or incompatibility for the exercise
of the Board member&rsquo;s position, as provided for in Federal Law 6,404/1976, these Bylaws, and current regulations, the member subject
to the impediment or incompatibility must immediately submit their resignation to the Chair of the Board of Directors.</P>


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<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Vacancy and Replacements</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 14 </B>&ndash; In the event
of a vacancy in the position of a Board member before the end of the term of office, the Board of Directors may resolve on the choice
of a replacement to complete the term of office of the replaced member, subject to subsequent ratification by the next General Meeting.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Functioning</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 15 </B>&ndash; The Board of
Directors shall meet ordinarily once a month and extraordinarily whenever convened by its Chair or at least 3 (three) of its members.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Board of Directors
meetings shall be convened in writing, by letter, email, or any other means that allows for proof of receipt of the call notice by the
recipient, and must include, in addition to the location, the date and time of the meeting, and the meeting agenda.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Chair
of the Board of Directors shall ensure that the Board members individually receive, before the meeting date, documentation containing
the necessary information to discuss and resolve on the matters to be addressed.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; Regardless
of the call notice formalities, the meeting will be considered regular if all Board members are present.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; The Board
of Directors meetings shall be installed with the presence of the majority of its active members and may be held in person, remotely,
or in a mixed format.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; Participation
of Board members in the meeting by telephone, videoconference, or other communication means that ensure effective participation and authenticity
of their vote is allowed. In such circumstances, the Board member shall be considered present at the meeting, and their vote shall be
valid for all legal purposes and incorporated into the meeting minutes. Votes by letter, telegram, or email are also accepted when received
by the Chair of the Board of Directors or their substitute by the end of the meeting.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph six </B>&ndash; Any Board
member shall have the right to be represented by another Board member through a written document, including email, for purposes of quorum
or voting, with the option to indicate or not the direction of their vote. This representation shall end simultaneously with the closure
of the Board of Directors meeting.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph seven </B>&ndash; Board of
Directors resolutions shall be made by the majority vote of those present.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph eight </B>&ndash; No member
of the Board of Directors shall have access to information, participate in resolutions and discussions of the Board of Directors or any
administrative bodies, exercise voting rights, or intervene in any matters in which they have a direct or indirect conflict of interest
with the Company, as provided by law.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph nine </B>&ndash; The Board
of Directors meetings shall be drafted by a person designated by the Chair of the Board, and all decisions shall be recorded in the drawn-up
minutes and registered in the appropriate book.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph ten </B>&ndash; The minutes
of the Board of Directors meetings shall be clearly drawn up and record the decisions made, the members present, dissenting votes, and
abstentions. Whenever the minutes contain decisions intended to produce effects on third parties, an excerpt of the minutes shall be filed
with the commercial registry and published.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Duties</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 16 </B>&ndash; In addition to
the duties provided by law, the Board of Directors shall also:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">annually approve the strategic plan, containing the updated
long-term strategy with risk and opportunity analysis for at least the next 5 (five) years, action guidelines, result goals, and performance
evaluation indices;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">annually approve the business plan and capital budget
for the following fiscal year;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">express an opinion on the Management report, the Executive
Board's accounts, and the financial statements for each fiscal year;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">evaluate and approve the Company's internal institutional
policies, including those addressing (a) disclosure of material acts and facts; (b) securities trading; (c) appointment of members to
the Board of Directors, its statutory or non-statutory advisory committees, the Executive Board, and the Fiscal Council; (d) related-party
transactions; (e) compensation; (f) risk management (financial and corporate); (g) allocation of results and distribution of dividends;
(h) donations and voluntary contributions; (i) sustainability and climate change; (j) Management&rsquo;s approval thresholds; (k) indemnity;
and (l) code of conduct and integrity;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">establish mechanisms for the periodic performance evaluation
of managers to enhance and ensure the effectiveness of the Company's governance, and may hire external specialists for the evaluation
process;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">select and dismiss the independent auditors indicated
by the Audit Committee;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">monitor the execution of the Company's relevant plans,
programs, projects, and budgets;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">supervise the achievement of specific goals and results
to be attained, assumed by the Executive Board members upon their investiture;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">resolve on the issue of shares, subscription warrants,
and debentures convertible into shares by the Company, within the limit of authorized capital, establishing the quantity and other conditions,
including subscription, placement, and payment conditions, as well as the respective subscription prices and, as applicable, premiums
or discounts;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">X.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">resolve on the issue of debentures not convertible into
shares, promissory notes, commercial notes, and other similar credit securities by the Company, establishing the quantity and other conditions,
including subscription, placement, and payment conditions, as well as the respective subscription prices and, as applicable, premiums
or discounts;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">resolve on the declaration of interest on equity and/or
distribution of dividends due to the current fiscal year's results or profit reserves, under the policy related to the matter;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">propose to the General Meeting the payment of interest
on equity or distribution of dividends due to the annual fiscal year's results, under the policy related to the matter;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">present a proposal for approval at the General Meeting
of a stock option or stock grant plan, being responsible for managing such plans, including the preparation of programs, the granting
of options, and stock grants under such plans;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">approve the execution of operations and transactions
of any nature with related parties within its approval authority, under the Company's related-party transactions policy;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">resolve on the liquidation, dissolution, appointment
of liquidators, bankruptcy, or voluntary court or out-of-court recovery acts of the Company or its direct and indirect subsidiaries and
affiliates, as well as related financial reorganizations;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">previously authorize the execution of any legal transactions,
observing the limits established in the approval levels policy, including the acquisition, disposal, or encumbrance of assets, the obtaining
of loans and financing, the assumption of obligations in general, and associations with other legal entities;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">authorize the establishment of wholly-owned subsidiaries
or non-profit entities or, observing the approval levels policy, authorize costly transactions involving investments in other companies
or investment funds, except for the General Meeting's competence provided in Article 256 of Federal Law 6,404/1976;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">approve the contracting of civil liability insurance
in favor of the members of statutory bodies, employees, agents, and representatives of the Company;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">elect and remove from office Executive Board members,
as well as members of the Audit Committee, the Eligibility and Compensation Committee, the Related-Party Transactions Committee, and the
Sustainability and Corporate Responsibility Committee; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">establish non-statutory technical and/or advisory committees
to assist the Board of Directors, elect and remove from office their members, and monitor the fulfillment of their duties;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">approve its internal regulations and the charters of
the Executive Board, the Audit Committee, the Eligibility and Compensation Committee, the Related-Party Transactions Committee, the Sustainability
and Corporate Responsibility Committee, and any other statutory or non-statutory advisory committee that may be created, under Article
160 of Federal Law 6,404/1976, as applicable, as well as any amendments to such regulations;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">authorize the Company to acquire its shares, as well
as its debentures, except in cases under the exclusive competence of the General Meeting, under current legislation;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">provide prior opinion on any proposal from the Executive
Board or matter to be submitted to the General Meeting;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXIV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">assume the examination of any matter within the competence
of the Executive Board and issue binding guidance on it;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">discuss, approve, and monitor decisions involving corporate
governance policy, stakeholder relations, people management policy, integrity program, Code of Conduct and Integrity;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXVI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">supervise the establishment of a previous consultation
mechanism to resolve doubts about the application of the Code of Conduct and Integrity, which should be available on the website, providing
for the expected standards of ethical behavior from administrators, Fiscal Council members, members of statutory committees, employees,
agents, and contracted third parties;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXVII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">implement and oversee the risk management and internal
control systems established for the prevention and mitigation of the main risks to which the Company is exposed, including risks related
to the integrity of accounting and financial information, as well as those related to corruption and fraud;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXVIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">prepare and disclose a reasoned opinion, favorable or
unfavorable, on any public tender offer aimed at the Company's shares, within 15 (fifteen) days of the publication of the public tender
offer notice, in which it will express its opinion, at least, under Article 56 (a) on the convenience and opportunity of the public tender
offer in the interest of the Company and its shareholders, including the price and potential impacts on the liquidity of the shares; (b)
on the strategic plans disclosed by the offeror regarding the Company; (c) on alternatives to accepting the public tender offer available
in the market. The opinion must include a reasoned favorable or unfavorable opinion on accepting the public tender offer and contain a
warning that the final decision on acceptance is the responsibility of each shareholder;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXIX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">promote the annual disclosure of the integrated or sustainability
report;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">disclose and encourage the use of the institutional whistleblowing
channel; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXXI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">elect, from among the Board of Directors members, its
Chair; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XXXII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">approve the duties of the Company's internal audit department.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 17 </B>&ndash; The composition,
operation, and competence of statutory or non-statutory advisory committees, under these Bylaws and applicable regulations, shall be defined
in the respective charters approved by the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The nomination
of members to statutory and non-statutory advisory committees shall be the responsibility of the Chair of the Board of Directors, subject
to the approval of the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The term of
office of members of statutory or non-statutory advisory committees shall coincide with the term of office of the Board of Directors members
and, except in the event of resignation or removal from office, shall be automatically extended until the election of their respective
substitutes.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; Statutory
or non-statutory committees may seek the collaboration of other professionals and administrative support structures. The compensation
of such professionals, including committee members and administrative support expenses, shall be borne by the Company. When deemed necessary,
such committees may decide to hire external professionals, whose fees will be paid by the Company.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER VI</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">EXECUTIVE BOARD</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Composition and Term of Office</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 18 </B>&ndash; The Executive
Board shall be composed of up to 7 (seven) members, including a Chief Executive Officer and a Chief Financial Officer and Investor Relations
Officer, with the others having no specific designation, all with a unified term of office of 2 (two) years, with re-election permitted.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Through the
Charter of the Executive Board, the Board of Directors shall define the attributions and functions of each Executive Officer, as applicable.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Executive
Board shall be composed exclusively of professionals with qualifications compatible with their duties, proven experience, and capacity
to act in their respective areas.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Vacancy and Replacements</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 19 </B>&ndash; In any Executive
Officer's absences or temporary impediments, the Chief Executive Officer shall appoint another Executive Board member to assume the functions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; In the absence
and temporary impediment of the Chief Executive Officer, he/she shall be replaced by an Executive Officer designated by him/her, and if
there is no designation, by the Chief Financial Officer and Investor Relations Officer.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 20 </B>&ndash; In the event
of a vacancy and until the Board of Directors elects a successor, the Chief Executive Officer shall be replaced by the Chief Financial
Officer and Investor Relations Officer.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Functioning</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 21 </B>&ndash; The Executive
Board is an executive body, capable of making collective decisions whenever necessary, meeting upon the call of the Chief Executive Officer
or any two Executive Officers jointly.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Executive
Board meetings shall be installed with the presence of at least half of the active Executive Officers, with matters approved by the majority
of those present. In the event of a tie, the proposal with the vote of the Chief Executive Officer shall prevail.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Executive
Board resolutions shall be recorded in minutes in a proper book and signed by all attending Executive Officers.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The participation
of Executive Officers by telephone, videoconference, or other means of communication that may ensure their effective participation and
the authenticity of their vote is permitted; the Executive Officer who participates virtually in the meeting shall be considered present
and his/her vote shall be considered valid for all legal effects, without prejudice to the subsequent drawing up and signing of the respective
minutes.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Duties</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 22 </B>&ndash; In addition to
the duties defined by law, the Executive Board, acting collectively, shall:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Authorize the opening, closing, or change of address
of branches, agencies, warehouses, offices, or any other establishments of the Company, in Brazil or abroad;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Prepare and submit for approval by the Board of Directors:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">annually, the proposal for the strategic plan, containing
the updated long-term strategy with risk and opportunity analysis for at least the next 5 (five) years, action guidelines, result goals,
and performance evaluation indices; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">annually, the proposal for the business plan and capital
budget for the following fiscal year;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the evaluation of the performance results of the Company's
activities;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the Company's quarterly reports accompanied by trial
balances and other financial statements;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">e)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">annually, the draft of the Management report, accompanied
by the balance sheet and other financial statements and respective explanatory notes, with the independent auditors' opinion and the proposal
for the allocation of the fiscal year's results;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">f)</FONT><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">quarterly, the interim balance sheets; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">g)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the Executive Board&rsquo;s Charter, as well as any amendments;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">h)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the proposal to increase the capital stock and amendment
to these Bylaws, with the opinion of the Fiscal Council, if applicable;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Approve:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT><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">the criteria for the technical-economic evaluation of
investment projects, with the respective delegation plans for their execution and implementation;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the chart of accounts; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the Company's annual insurance plan;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">authorize, observing the limits and guidelines established
by law, these Bylaws, the Board of Directors, and its own policy:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT><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">acts of waiver or court or out-of-court settlement to
resolve disputes or pending issues, and may establish value limits for delegating the practice of these acts by the Chief Executive Officer
or any other Executive Officer; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the execution of any legal transactions, observing the
limits established in the approval levels policy, without prejudice to the competence attributed by the Bylaws to the Board of Directors,
including the acquisition, disposal, or encumbrance of assets, obtaining loans and financing, assuming obligations in general, and associations
with other legal entities;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 4.5pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT></TD><TD><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">promote the organizational and functional structuring of
the Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 23</B> &ndash; The Executive
Board&rsquo;s Charter may detail the individual attributions of each Executive Officer, and subject the practice of certain acts included
in the areas of specific competence to previous authorization by the Executive Board.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&mdash; The Chief
Executive Officer is responsible for:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">representing the Company, actively and passively, in
court or out of court, and may appoint for this purpose an attorney-in-fact with special powers, including powers to receive initial summons
and notices, subject to these Bylaws;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">institutionally representing the Company in its relations
with governmental authorities, private entities, and third parties in general;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">calling and presiding over the Executive Board meetings;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">coordinating the Executive Board&rsquo;s activities;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">coordinating and overseeing the ordinary management
of the Company, including the implementation of the guidelines and compliance with resolutions taken by the General Meeting, Board of
Directors, and Executive Board in a collegiate manner;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">coordinating the activities of the other Executive Officers;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">issuing normative instructions that regulate the activities
among the several areas of the Company, where applicable;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">coordinating, evaluating, and controlling the functions
related to:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT><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">CEO&rsquo;s Office</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT><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">strategic planning and strategy;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">c)</FONT><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">corporate governance and socio-environmental performance;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">d)</FONT><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">internal audit;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">e)</FONT><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">communication;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">f)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">ombudsman; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">g)</FONT><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">institutional relations.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>- The Chief Financial
Officer and Investor Relations Officer is responsible for:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">coordinating the preparation of the Company's financial
statements;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">directing and leading the administration and management
of the Company's financial activities;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">guiding and analyzing investments, defining risk exposure
limits, proposing and contracting loans and financing, managing treasury operations, and overseeing the Company&rsquo;s financial planning
and control;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">performing other functions established in the Executive
Board's Charter;</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;being responsible
for providing information to the investing public, the CVM, stock exchanges or over-the-counter markets, both in Brazil and abroad, as
well as corresponding regulatory and supervisory entities, keeping the Company's records updated with these institutions;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">VI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;representing the
Company before the CVM, stock exchanges, and other entities in the capital markets, and providing relevant information to investors and
the market in general; and</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">VII.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;performing other
functions established by law, current regulations, and the Executive Board's Charter.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Company&rsquo;s Representation</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 24</B> &ndash; The Company undertakes
before third parties:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">for the signature of 2 (two) Executive Officers, 1 (one)
necessarily the Chief Executive Officer or the Chief Financial Officer and Investor Relations Officer;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">for the signature of 1 (one) Executive Officer and 1
(one) attorney-in-fact, according to the powers granted in the respective power of attorney;</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
for the signatures of 2 (two) attorneys-in-fact, according to the powers granted in the respective power of attorney; and</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">for the signature of 1 (one) attorney-in-fact, according
to the powers granted in the respective power of attorney, in this case exclusively for specific acts.</FONT></P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>- Notwithstanding
the provisions of the main section of this Article, the Company may be represented individually by any 1 (one) Executive Officer or 1
(one) attorney-in-fact with specific powers for any of the following acts: (a) representation of the Company at shareholders' meetings
and meetings of members of companies in which it participates; (b) representation of the Company in court, except for acts involving the
waiver of rights; or (c) routine administrative acts, including those carried out outside the headquarters, before regulatory bodies,
public offices, mixed-capital companies, commercial boards, Labor Courts, National Institute of Social Security (&quot;Instituto Nacional
da Seguridade&nbsp;Social&quot; -&nbsp;INSS), Severance Indemnity Fund (<I>Fundo de Garantia do Tempo e Servi&ccedil;o</I> &ndash; FGTS),
and their collecting banks, and others of the same nature. Routine administrative acts are those that do not involve the assumption and/or
release of obligations by the Company to third parties, including but not limited to the signing of mail, declarations, notifications,
letters, official documents, and requests, among other non-binding documents.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>- Powers of attorney
may be granted by public or private instrument, including electronically, with a fixed term of validity and granted by 2 (two) Executive
Officers, 1 (one) of whom must be the Chief Executive Officer or the Chief Financial Officer and Investor Relations Officer, and will
specify the powers granted. Only judicial powers of attorney may be granted by any 2 (two) Executive Officers and have an indefinite validity.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER VII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">FISCAL COUNCIL</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 25 </B>- The Company shall have
a permanent Fiscal Council, with the competencies and duties provided by law.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 26 </B>- The Fiscal Council
shall be composed of at least 3 (three) and at most 5 (five) sitting members, with an equal number of alternates, elected annually by
the Annual Shareholder&rsquo;s Meeting, with a term of office until the next Annual Shareholder&rsquo;s Meeting, with reelection permitted.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>- In the event of
a vacancy or impediment of a sitting member, the alternate shall take over.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>- The Fiscal Council
shall meet ordinarily once a month and extraordinarily whenever called by any of its members or by the Executive Board, with minutes recorded
in its own book.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER VIII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">AUDIT COMMITTEE</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 27 </B>- The Company shall have
a statutory Audit Committee, an advisory body linked to the Board of Directors, composed of 3 (three) members who cumulatively meet the
independence requirements of the Novo Mercado Regulations, technical knowledge, and availability of time.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>- The participation
of the Company's Executive Officers, Executive Officers of its subsidiaries, its controlling shareholder, affiliated companies, or companies
under common control in the Audit Committee is prohibited.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>- The members of the
Audit Committee must have sufficient technical knowledge in accounting and finance, and at least 1 (one) of them must have recognized
experience in internationally accepted corporate accounting, preparation, and evaluation of financial statements, knowledge of internal
controls, and market information disclosure policies.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>- The Audit Committee
shall have a coordinator, whose activities shall be defined in the Audit Committee's Internal Regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>- The Audit Committee
members shall serve as Committee members for the duration of their respective terms of office on the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>- The Audit Committee
members may be reappointed for up to 2 (two) terms of office and may only hold a seat on the Audit Committee again after a minimum of
3 (three) years from the end of their last term of office.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 28 </B>- The Audit Committee
reports to the Board of Directors and is responsible for the matters provided in this Bylaws, the regulations issued by the CVM, the Novo
Mercado Regulations, and the Audit Committee's Internal Regulations, among which:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to provide an opinion on the hiring and dismissal of
the independent auditor for conducting independent external audits or for any other services;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to supervise the activities of (a) the independent auditors
to evaluate their independence, the quality of the services provided, and the adequacy of the services provided to the Company's needs;
(b) the internal controls area; (c) the internal audit area; and (d) the area responsible for preparing the Company's financial statements;
</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
to evaluate and monitor the quality and integrity of (a) internal control mechanisms; (b) the Company's quarterly information, interim
financial statements, and financial statements; and (c) the information and measurements disclosed based on adjusted accounting data and
non-accounting data that add elements not provided for in the usual financial statements;</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to evaluate and monitor, together with Management and
the internal audit area, the adequacy of related-party transactions carried out by the Company and their respective </FONT><FONT STYLE="font-size: 9pt">disclosures<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">;</FONT></FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to evaluate and monitor the Company's risk exposures,
and may request detailed information on policies and procedures related to (a) management compensation; (b) the use of the Company's assets;
and (c) expenses incurred on behalf of the Company; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to prepare a summary annual report to be presented with
the financial statements, describing (a) meetings held and main matters discussed; (b) its activities, results, conclusions reached, and
recommendations made; and (c) any situations where there is a significant divergence between the Company's Management, independent auditors,
and the Audit Committee concerning the Company's financial statements;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to have means for receiving and handling information
about non-compliance with applicable legal and regulatory provisions, as well as internal regulations and codes, including specific procedures
for protecting the provider and the confidentiality of the information;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to endorse the choice of the head of the internal audit
appointed by the Executive Board, propose their approval and dismissal to the Board of Directors, and supervise the execution of their
respective work;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to propose the Company's Code of Conduct and Integrity,
as well as any changes, for approval by the Board of Directors and periodically evaluate the adherence to its business practices, including
the commitment of managers to the dissemination of the culture of integrity and the appreciation of ethical behavior;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">X.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to monitor the procedures for investigating violations
of the Code of Conduct and Integrity, as well as the events recorded in the Whistleblower Channel;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to receive and process complaints and claims from third
parties on matters related to accounting, internal accounting controls, and auditing;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to provide previous opinions on the hiring of other services
from the independent auditing firm, or companies associated with it, that are not included in typical auditing activities;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to give opinions, at any time, on the performance of
the accounting and internal audit areas, proposing to the Executive Board the measures it deems appropriate;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to communicate directly with internal audit and independent
auditors, monitoring their respective work, together with the Chief Financial Officer and Investor Relations Officer;</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">XV.</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to examine the internal audit and independent auditors' reports before they are submitted to
the Board of Directors;</P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to ensure the adequacy of the material resources made
available to internal audit;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to permanently evaluate the accounting practices, processes,
and internal controls adopted by the Company, seeking to identify critical issues, financial risks, and potential contingencies, and proposing
improvements it deems necessary;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XVIII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to evaluate, monitor, and recommend to Management the
correction or improvement of the Company's internal policies, including the related-party transactions policy; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">XIX.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">to request the hiring of specialized services to support
the activities of the Audit Committee, whose compensation will be borne by the Company, within its approved annual budget.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The Audit
Committee will resolve by a majority vote of its members, without prejudice to the right of its members to individually request information
and examine the company's books, documents, and papers.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Audit
Committee will meet ordinarily once every two months and, extraordinarily, whenever called by the coordinator or the majority of its members,
with these meeting minutes recorded in a specific book.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The reports
produced by the internal audit will always be submitted to the Executive Board and Audit Committee members.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 29</B> &ndash; The Audit Committee
will propose its internal regulations, as well as any amendments, submitting them to the Board of Directors for approval.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The internal
regulations may expand the competencies of the Audit Committee, and also address the activities of the coordinator, the conduct of regular
meetings, the manner of recording its statements and resolutions, and other matters deemed pertinent for the smooth conduct of its work.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 30 </B>&ndash; The Audit Committee
will have operational autonomy and its own budget approved by the Board of Directors, under applicable regulations and the Novo Mercado
Regulations.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER IX</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><B>ELIGIBILITY AND COMPENSATION COMMITTEE</B></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 31 </B>&ndash; The Company shall
have an Eligibility and Compensation Committee responsible for overseeing the nomination process for members of the Company's statutory
and non-statutory bodies, under this Bylaw, the Company's nomination policy, and other duties determined by the Board of Directors as
provided for in its Charter. It will also be responsible for proposing the compensation and benefits policy for managers and members of
statutory and non-statutory advisory committees.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The Eligibility
and Compensation Committee shall:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">check compliance with the nomination and evaluation process
for managers, Fiscal Council members, and members of statutory and non-statutory committees; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">address matters involving the compensation and benefits
of managers and members of statutory and non-statutory bodies.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>ARTICLE 32 </B>&ndash; The Eligibility and Compensation Committee
will be composed of a minimum of 3 (three) and a maximum of 5 (five) members, with academic background or relevant professional experience
in matters within its competence, with at least one of them being an independent member who will act as its coordinator.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">&nbsp;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>Sole paragraph </B>&ndash; The members of the Eligibility
and Compensation Committee must observe, where applicable, the conflict of interest rules applicable to Board members, under Article 156
of Federal Law 6.404/76.</P>


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<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER X</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><FONT STYLE="font-variant: small-caps">SUSTAINABILITY
AND CORPORATE RESPONSIBILITY COMMITTEE</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><FONT STYLE="font-variant: small-caps">ARTICLE
33 <FONT STYLE="font-weight: normal">&ndash; </FONT></FONT><FONT STYLE="font-weight: normal">The Company shall have a Sustainability and
Corporate Responsibility Committee, an advisory body linked to the Board of Directors, responsible for integrating Environmental, Social,
and Corporate Governance aspects into the business strategy, as provided in item I of Article 16 above, and for promoting the adoption
of the highest socio-environmental and governance standards in its corporate policies and procedures.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The Sustainability
and Corporate Responsibility Committee will monitor the implementation of the sustainability and climate change policy and the sustainable
management of natural resources, suitable working conditions, and positive community engagement, including monitoring the Company's goals
for water efficiency, resource conservation, and social impact.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>Paragraph two </B>&ndash; The above-mentioned goals will
be presented by the responsible area of the Company to the Board of Directors every quarter, after being presented to the Sustainability
and Corporate Responsibility Committee.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The Sustainability
and Corporate Responsibility Committee will also check the performance of the Socio-Environmental Management System implemented by the
responsible area in the Company, for an integrated assessment of the following socio-environmental risks and impacts, where applicable,
in the Company's locations and areas of operation:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Employment and Working Conditions;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Resource Efficiency and Pollution Prevention;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Community Health and Safety;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Land Acquisition and Involuntary Resettlement;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Biodiversity Conservation and Sustainable Management
of Living Natural Resources;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Indigenous Peoples; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Cultural Heritage.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; The performance
standards provided for in the sustainability and climate change policy will take into account the Equator Principles, the United Nations
Sustainable Development Goals (SDGs), and the performance standards of Multilateral institutions, as well as other standards to applicable
the Company.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; Among the
potential material risks that may impact the Company's value and reputation, as well as the proposed preventive and mitigating measures,
the Sustainability and Corporate Responsibility Committee will monitor the Company's structure and conditions for responding to emergencies
and the impact of extreme weather events.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><FONT STYLE="font-variant: small-caps">ARTICLE
34 <FONT STYLE="font-weight: normal">&ndash; </FONT></FONT><FONT STYLE="font-weight: normal">The Sustainability and Corporate Responsibility
Committee will be composed of a minimum of 3 (three) and a maximum of 5 (five) members, with an academic background or relevant professional
experience in matters within its competence, with at least one of them being a member of the Board of Directors, who will also be its
coordinator.</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify">Paragraph one <FONT STYLE="font-weight: normal">&ndash;
One of the members of the Sustainability and Corporate Responsibility Committee will be chosen by the employees' vote in a direct election,
which may receive administrative support from the Company for its realization, if so requested.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>Paragraph two </B>&ndash; The Sustainability and Corporate
Responsibility Committee members must observe, where applicable, the conflict of interest rules applicable to Board members under Article
156 of Federal Law 6,404/76.</P>


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<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><FONT STYLE="text-transform: uppercase">CHAPTER
XI</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><FONT STYLE="text-transform: uppercase">Related-Party
Transactions Policy</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><FONT STYLE="text-transform: uppercase">ARTICLE
35 <FONT STYLE="font-weight: normal">&ndash; </FONT></FONT><FONT STYLE="font-weight: normal">The Company shall have a Related-Party Transactions
Committee responsible for guiding the conduct of transactions with related parties and situations involving potential conflicts of interest,
aiming to preserve the interests of the Company and ensure full independence and absolute transparency, which shall report to the Audit
Committee as appropriate, according to item IV of Article 28.</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify">Sole paragraph <FONT STYLE="font-weight: normal">&ndash;
The Related-Party Transactions Committee shall:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">ensure compliance with the criteria established in the
institutional policy on related-party transactions approved by the Board of Directors;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">analyze and provide opinions on any operations that characterize
a related-party transaction and the impact of their execution, including regarding (a) reputational risks; (b) execution under market
conditions, on commutative bases or with adequate compensatory payment; (c) well-founded justifications for transactions not classified
under commutative and market conditions and the need for compensatory payment; and</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
provide a reasoned opinion on situations involving potential conflicts of interest in related-party transactions when a member of our
senior management, shareholder, or another governance agent is not independent concerning the matter under discussion and may influence
or make decisions motivated by particular interests or those distinct from the Company&rsquo;s interest, even if aligned with the Company's
interest.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><FONT STYLE="font-variant: small-caps">ARTICLE
36 <FONT STYLE="font-weight: normal">&ndash; </FONT></FONT><FONT STYLE="font-weight: normal">The Related-Party Transactions Committee
shall be composed of at least 3 (three) and at most 5 (five) members, one of whom shall be an independent member, who will also act as
the coordinator, and the other professionals of recognized reputation in the market, with no employment or statutory ties to the Company,
and with relevant experience in matters within their competence.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The Committee
members shall observe, as applicable, the conflict of interest rules applicable to Board members, under Article 156 of Federal Law 6,404/76.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><FONT STYLE="text-transform: uppercase">CHAPTER
XII</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">COMPLIANCE AND RISK MANAGEMENT DEPARTMENT</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 37 </B>&ndash; The Company shall
have a Compliance and Risk Management department linked to the CEO and, administratively, to a Statutory Executive Officer appointed by
the Board of Directors, capable of direct communication with the Internal Audit department, the Fiscal Council, the Audit Committee, and
the Board of Directors when there is suspicion of irregularities involving Executive Board members.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 38 </B>&ndash; The area is responsible
for:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">establishing policies to encourage respect for laws,
standards, and regulations, as well as preventing, detecting, and addressing risks of irregular, illegal, and unethical conduct by the
Company's members, adopting efficient internal control and strategic, asset, operational, financial, socio-environmental, and reputational
risk management structures and practices, among others;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">promoting the importance of compliance, risk management,
and internal control;</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
identifying and classifying, together with the various areas of the Company, the main risks to which the Company is subject, coordinating
these efforts;</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">preparing, together with other Company departments, and
monitoring action plans to mitigate identified risks;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">adopting, together with various Company departments,
internal control procedures to prevent or detect inherent or potential risks to the timeliness, reliability, and accuracy of the Company's
information;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VI.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">preparing the integrity program and recommending changes
and improvements to it, submitting it for approval by the Executive Board, the Audit Committee, and the Board of Directors; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">VII.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">preparing periodic reports on their activities, and submitting
them to the Executive Board, the Fiscal Council, and the Audit Committee.</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XIII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">INTERNAL AUDIT</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 39 </B>&ndash; The Company shall
have an internal audit linked to the Board of Directors through the Audit Committee and, administratively, to the CEO, governed by applicable
legislation and regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The area
shall be responsible for assessing:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the adequacy, quality, and effectiveness of internal
controls;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the quality and effectiveness of risk management and
governance processes;</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
the reliability of the process of collecting, measuring, classifying, accumulating, recording, and disclosing events and transactions,
aiming at the preparation of financial statements; and</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the proper application of the principle of segregation
of duties to avoid conflicts of interest and fraud.</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>ARTICLE 40 </B>&ndash; The internal audit process guidelines
and their attributions shall be defined by an internal audit policy approved by the Audit Committee and the Board of Directors.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">&nbsp;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>ARTICLE 41 </B>&ndash; The Audit Committee shall endorse
the choice, by the Board of Directors, of the internal audit head appointed by the CEO, propose their dismissal, and supervise the execution
of the respective works.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">&nbsp;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>ARTICLE 42 </B>&ndash; The internal audit may communicate
with the compliance and risk management department when there is suspicion of irregularities involving Executive Board members or when
they fail to take necessary measures regarding reported situations.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XIV</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">COMMON RULES FOR STATUTORY BODIES</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><U>Investiture, Impediments, and Prohibitions</U></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 43 </B>&ndash; For the purposes
of this chapter, &ldquo;statutory bodies&rdquo; include the Board of Directors, the Executive Board, the Fiscal Council, the Audit Committee,
the Eligibility and Compensation Committee, the Sustainability and Corporate Responsibility Committee, and the Related-Party Transactions
Committee.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 44 </B>&ndash; The members of
statutory bodies shall prove compliance with legal requirements by presenting their curriculum vitae and relevant documentation according
to current regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph:</B> The positions of
Chair of the Board of Directors and CEO or principal executive of the Company cannot be held by the same person.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 45 </B>&ndash; The members of
the Board of Directors, the Executive Board, and the Fiscal Council shall take office by signing the term of investiture recorded in the
respective minutes book, as well as meeting applicable legal requirements.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The term of
investiture for members of the Board of Directors, Executive Board, and Fiscal Council, both sitting and alternate, must include their
adherence to the arbitration clause of the Novo Mercado Regulation referred to in Article 53 below.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The term of
investiture must be signed within 30 (thirty) days following the election, under penalty of its ineffectiveness, except for justification
accepted by the body for which the member was elected, and must contain the indication of at least one domicile for receiving summons
and notices of administrative and judicial proceedings related to acts of their management, with the domicile being allowed to be changed
only by written communication.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 46 </B>&ndash; The investiture
in the Company&rsquo;s statutory bodies shall comply with the requirements and impediments imposed by law, these Bylaws, and, where applicable,
the Company's nomination policy.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Due to absolute
incompatibility, the investiture in any statutory body is prohibited:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">for a representative of the regulatory body to which
the Company is subject, a State Minister, a State Secretary, a Municipal Secretary, a holder of a position, without permanent ties to
public service, of a special nature, or senior management and advisory in public administration, a statutory leader of a political party,
and a holder of a mandate in the Legislative Branch of any federation entity, even if on leave from office;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">for a person who has participated, in the last 36 (thirty-six)
months, in a decision-making structure of a political party or work related to the organization, structuring, and execution of an electoral
campaign; and</FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt">III.</FONT>
for a person holding a position in a trade union organization.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>Paragraph two </B>&ndash; The legal, statutory, and integrity
requirements of these Bylaws must be analyzed by the Eligibility and Compensation Committee.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt">&nbsp;</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt"><B>ARTICLE 47 </B>&ndash; Unless in the case of resignation
or removal from office or the cases prohibited by these Bylaws, the term of office of the members of statutory bodies is considered automatically
extended until the investiture of their respective successors.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XV</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><B>FISCAL YEAR AND FINANCIAL STATEMENTS,
PROFITS, RESERVES, AND DISTRIBUTION OF RESULTS</B></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 48 &ndash; </B>The fiscal year
shall coincide with the calendar year, at the end of which the Executive Board shall prepare the financial statements as provided by law.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 49 </B>&ndash; Common shares
shall be entitled to the mandatory minimum dividend corresponding to 25% (twenty-five percent) of the net profit for the fiscal year,
after the deductions required or allowed by law regarding the surplus profit available for distribution each fiscal year, the policy for
allocating results and distributing dividends, and the applicable law.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Dividends
may be paid by the Company in the form of interest on equity.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The Company
may prepare interim financial statements every quarter to distribute dividends or pay interest on equity, subject to the provisions of
the related policy.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; Approved
dividends do not accrue interest, and those not claimed within 3 (three) years from the date of the General Meeting that approved them
will mature in favor of the Company.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; The Board
of Directors may propose to the General Meeting that the remaining balance of the profit for the fiscal year, after the deduction of the
legal reserve and the mandatory minimum dividend, be allocated to the creation of an investment reserve, which shall adhere to the following
principles:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">its balance, together with the balance of the other profit
reserves, except for the reserves for contingency and unrealized profit, may not exceed the capital stock; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">the purpose of the reserve is to ensure the investment
plan, and its balance may be used:</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">in the absorption of losses, whenever necessary;</FONT></P>


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<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">in the distribution of dividends, at any time;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">in transactions for the redemption, refund, or buyback
of shares, authorized by law; and</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">in the incorporation of the capital stock.</FONT></P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XVI</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">Liquidation</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 50 &ndash; </B>The Company shall
enter into liquidation in the cases provided by law, and it shall be the responsibility of the General Meeting, if applicable, to determine
the mode of liquidation and appoint the liquidator, setting their remuneration.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XVII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">DEFENSE MECHANISM</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 51 </B>&ndash; The Company shall
ensure to the members of the statutory bodies, through an external professional to be hired, technical defense in judicial and administrative
proceedings brought during or after their respective terms of office, for acts related to the exercise of their functions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The same protection
extends to employees, representatives, and agents of the Company who acted within the limits of the powers conferred upon them.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; By authorization
of the Executive Board, provided there is no conflict of interest, preliminary assistance by an in-house Company lawyer is assured.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The Company
may, at its discretion, permanently retain or prequalify one or more law firms of recognized professional reputation to be able to assume,
at any time, the technical defense of the agents covered by this Article 51.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; If, for any
reason, there is no law firm retained or prequalified by the Company, the agent may hire a lawyer of their own choice, in which case the
fees and other expenses incurred in the technical defense shall be reimbursed or advanced by the Company, after proving the expense or
its imminence, provided that the amounts involved have been approved by the Board of Directors as reasonable.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; When the
Company does not approve the professional indicated to assume the defense in due time, the interested party may hire them at their own
expense, being entitled to reimbursement of the respective legal fees set, within the limits approved by the Board of Directors as reasonable.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph six </B>&ndash; The Company
shall ensure technical defense and timely access to all necessary documentation for this purpose, as well as cover court costs, fees of
any nature, and deposits for guaranteeing the proceedings.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph seven -</B>The agent who is
convicted or held liable, by a final and unappealable decision, must reimburse the Company for the amounts actually disbursed unless it
is evidenced that they acted in good faith and in the interest of the Company.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph eight </B>&ndash; The Company
may contract insurance for the members of the statutory bodies, employees, representatives, and agents, to cover liabilities arising from
the exercise of their functions.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 52 </B>&ndash; The Company may
also enter into indemnity agreements with members of the Board of Directors, Fiscal Council, Executive Board, statutory and non-statutory
committees, managers, and all other employees and agents who legally act by delegation of the Company&rsquo;s Management, to indemnify
them and keep them indemnified regarding certain expenses related to arbitration, judicial, or administrative proceedings involving acts
performed in the exercise of their duties or powers, from the date of their investiture or the beginning of the contractual relationship
with the Company.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; Indemnity
agreements shall not cover:</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">I.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">acts performed outside the scope of the duties or powers
of their signatories; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">II.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">acts involving bad faith, fraud, gross negligence, or
willful misconduct; </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">III.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">acts performed in their own interest or the interest
of third parties, to the detriment of the Company's social interest;</FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">IV.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">indemnities resulting from social action as provided
in Article 159 of Federal Law 6,404/1976; or </FONT></P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; letter-spacing: -0.1pt">V.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">other cases provided in the indemnity agreement. </FONT></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The indemnity
agreement shall be adequately disclosed and provide at least (i) the maximum coverage amount offered; (ii) the coverage period; and (iii)
the decision-making procedure regarding the payment of coverage, which shall ensure the independence of decisions and guarantee that they
are made in the Company&rsquo;s interest.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XVIII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">ARBITRATION</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 53 </B>&ndash; The Company,
its shareholders, Management, and members of the Fiscal Council, both sitting and alternate, as well as other statutory and non-statutory
committees, must resolve any disputes that may arise among them through arbitration before the Market Arbitration Chamber, under its regulations.
These disputes may be related to or arise from their roles as issuer, shareholders, administrators, members of the Fiscal Council, and
other statutory and non-statutory committees, especially those resulting from the provisions of Federal Law 6,385/1976, Federal Law 6,404/1976,
these Bylaws, the regulations issued by the National Monetary Council, the Central Bank of Brazil, and the CVM, as well as other applicable
regulations related to the functioning of the capital market in general, in addition to those contained in the Novo Mercado Regulations,
other B3 regulations, and the Novo Mercado Participation Agreement.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XIX</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><B>SALE OF SHARE CONTROL AND CANCELATION
OF REGISTRATION AS A PUBLICLY-HELD COMPANY</B></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 54 &ndash; </B>The direct or
indirect sale of control of the Company, whether through a single transaction or successive transactions, must be contracted under the
condition that the acquirer of the control undertakes to make a public offering to acquire shares issued by the Company held by other
shareholders, observing the conditions and deadlines provided in the legislation, current regulations, and the Novo Mercado Regulations,
to ensure equal treatment to that given to the seller.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 55 </B>&ndash; The cancelation
of registration as a publicly-held company must be preceded by a public offering to acquire shares at a fair price, which must comply
with the procedures and requirements established in Federal Law 6,404/1976 and the regulations issued by the CVM regarding public offerings
to acquire shares for the cancellation of registration as a publicly-held company.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><B>CHAPTER XX</B></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center"><B>PUBLIC OFFERING FOR ACHIEVEMENT OF RELEVANT
PARTICIPATION</B></P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 56 </B>&ndash; Any shareholder
or group of shareholders who acquires or becomes the holder of shares issued by the Company representing 30% (thirty percent) or more
of the capital stock (&ldquo;<B>Acquirer</B>&rdquo;), must, within a maximum period of 60 (sixty) days from the date of acquisition or
the event that resulted in ownership of shares in a quantity equal to or greater than 30% (thirty percent) of the Company&rsquo;s total
shares, make or request registration, as applicable, of a public offering to acquire all of the Company&rsquo;s shares (&ldquo;<B>Initial
Public Offering for Achievement of Relevant Participation</B>&rdquo;), under applicable regulations.</P>


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<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph one </B>&ndash; The Initial
Public Offering for Achievement of Relevant Participation must be (i) directed indiscriminately to all the Company&rsquo;s shareholders;
(ii) conducted through an auction to be held at B3; (iii) launched at the price determined according to the provisions of Paragraph two
of this article; (iv) paid in cash, in national currency, against the acquisition of shares in the Initial Public Offering for Achievement
of Relevant Participation; and (v) carried out in a manner that ensures equal treatment for the recipients, provides them with adequate
information about the Company and the offeror, and equips them with the necessary elements to make a well-considered and independent decision
regarding acceptance of the public offering.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph two </B>&ndash; The acquisition
price in the Initial Public Offering for Achievement of Relevant Participation for each share of the Company shall not be less than the
highest value between (i) 200% (two hundred percent) of the issue price of the shares in the most recent capital increase carried out
through a public offering within the 36 (thirty-six) months preceding the date when the Initial Public Offering for Achievement of Relevant
Participation becomes mandatory under the terms of this Article 56, duly updated by the Extended National Consumer Price Index (IPCA)
published by the Brazilian Institute of Geography and Statistics (IBGE) until the time of payment; and (ii) 200% (two hundred percent)
of the weighted average unit price of the Company&rsquo;s shares on the stock exchange with the highest trading volume of the Company&rsquo;s
shares during the 90 (ninety) trading days preceding the date of acquisition or the event that resulted in the obligation to carry out
the Initial Public Offering for Achievement of Relevant Participation, considering, for this purpose, the first occurrence among, including
but not limited to: (1) the execution of the acquisition contract, or (2) the formalization of the instrument that resulted in ownership
(or that guaranteed (a) usufruct or trust over the Company&rsquo;s shares; (b) options for purchase, subscription, or exchange, for any
reason, that may result in the acquisition of the Company&rsquo;s shares; or (c) any other right that ensures, permanently or temporarily,
political or patrimonial rights of a shareholder over the Company&rsquo;s shares (&ldquo;<B>Other Rights of Corporate Nature</B>&rdquo;)
or subscription or acquisition right), or (3) the settlement of the acquisition when conducted on the stock exchange without the execution
of a contractual instrument, or (4) the disclosure by the Company of a material fact or market communication regarding the acquisition
or the aforementioned event.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph three </B>&ndash; The carrying
out of the Initial Public Offering for Achievement of Relevant Participation mentioned in the main section does not preclude the possibility
of another Company shareholder, or, if applicable, the Company itself, making a competing public offer to acquire shares, under the terms
of the applicable regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph four </B>&ndash; The requirement
to carry out the Initial Public Offering for Achievement of Relevant Participation may be waived or conducted under different terms and
conditions from those provided in this Article 56, upon a favorable vote of shareholders gathered in a General Meeting specially called
for this purpose, observing the following rules: (i) the said General Meeting shall be convened, on a first call, with the presence of
shareholders representing at least half of the capital stock with voting rights and, on a second call, with any number of shareholders;
(ii) the waiver of the public offering to acquire shares shall be considered approved with the simple majority vote of the shareholders
present, whether on a first or second call; and (iii) the shares held by the Acquirer shall not be counted for the purposes of the quorum
required for installation and deliberation under this paragraph.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph five </B>&ndash; The Acquirer
shall be required to comply with any requests or requirements from the CVM regarding the Initial Public Offering for Achievement of Relevant
Participation, within the maximum periods prescribed in the applicable regulations.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph six </B>&ndash; In the event
the Acquirer fails to comply with the obligations imposed by this Article 56, including compliance with the maximum deadlines (i) for
the execution or request of the registration of the Initial Public Offering for Achievement of Relevant Participation, or (ii) for compliance
with any requests or requirements from the CVM and/or B3, the Company&rsquo;s Board of Directors shall convene a General Meeting, at which
the Acquirer shall not be entitled to vote, to resolve on the suspension of the rights of the Acquirer who failed to comply with any obligation
imposed by this Article 56, as provided in Article 120 of Federal Law 6,404/1976.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph seven </B>&ndash; Any Acquirer
who acquires or becomes the holder of other rights, including (i) Other Rights of Corporate Nature over a quantity equal to or greater
than 30% (thirty percent) of the total shares of the Company, or that may result in the acquisition of shares of the Company in a quantity
equal to or greater than 30% (thirty</P>


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    <!-- Field: /Page -->

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify">percent) of the total shares of the Company,
or (ii) derivatives giving rights to the Company&rsquo;s shares representing 30% (thirty percent) or more of the Company&rsquo;s shares,
shall also be required, within a maximum period of 60 (sixty) days from the date of such acquisition or event, to carry out or request
registration, as applicable, of an Initial Public Offering for Achievement of Relevant Participation, as described in this Article 56.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph eight </B>&ndash; In the event
of the sale of control of the Company, the carrying out of an Initial Public Offering for Achievement of Relevant Participation under
the terms of this Article 56 shall be waived, except for the obligation of the Acquirer to carry out, as applicable, the public offer(s)
provided in Article 254-A of Federal Law 6,404/1976, the Novo Mercado Regulations, and these Bylaws.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph nine </B>&ndash; The provisions
of this Article 56 do not apply if a person becomes the holder of shares representing 30% (thirty percent) or more of the Company&rsquo;s
total shares as a result of (i) the merger of another company by the Company; (ii) the merger of shares of another company by the Company;
(iii) the cancellation of treasury shares; (iv) the repurchase, redemption, or capital reduction with the cancellation of shares by the
Company; (v) the public or private subscription of shares of the Company in primary issue, within the limit of the preemptive or priority
subscription rights, as applicable; or (vi) succession through corporate reorganization or legal disposition, including succession by
inheritance. However, once a percentage equal to or greater than 30% (thirty percent) of the Company&rsquo;s total shares is reached due
to the aforementioned events, any subsequent voluntary increase in shareholding will trigger the obligation to carry out an Initial Public
Offering for Achievement of Relevant Participation by the respective shareholder or Group of Shareholders.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph ten </B>&ndash; If any shareholder
or Group of Shareholders reaches, directly or indirectly, a shareholding representing a percentage equal to or greater than 30% (thirty
percent) of the Company&rsquo;s capital stock and wishes to make a new share acquisition, such shareholder or Group of Shareholders may
only make new acquisitions on the stock exchange, being prohibited from conducting private transactions or over-the-counter market transactions,
except regarding the Initial Public Offering for Achievement of Relevant Participation itself.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Paragraph eleven </B>&ndash; The obligation
to carry out the Initial Public Offering for Achievement of Relevant Participation under the terms of this Article does not apply to the
effective, direct, or indirect participation of the State of S&atilde;o Paulo and its Group of Shareholders in the Company's capital stock
as of the date of entry into force of this Bylaws. However, it will apply (a) to any increase in the participation of the State of S&atilde;o
Paulo and its Group of Shareholders in the Company's capital stock after such date, except for the increases in participation under Paragraph
nine above, or (b) if the participation of the S&atilde;o Paulo State and its Group of Shareholders falls below 30% (thirty percent) of
the capital stock and subsequently reaches or exceeds 30% (thirty percent) of the total shares issued by the Company, under the terms
of this Article 56.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XXI</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">DELISTING FROM NOVO MERCADO</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 57 &ndash;</B> The Company's
delisting from Novo Mercado will be decided under the provisions of the Novo Mercado Regulations, and the public offering to acquire shares
belonging to the other shareholders of the Company may be waived, observing the procedures provided in the said Regulations.</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">CHAPTER XXII</P>

<P STYLE="font: bold 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: center">GENERAL PROVISIONS</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 58 </B>&ndash; The Company shall
remain a sponsor, under current conditions, of the pension plans administered by Funda&ccedil;&atilde;o Sabesp de Seguridade Social (Sabesprev),
in both defined benefit and defined contribution modalities, with the entry of new participants and the expansion or increase of respective
benefits prohibited in both cases.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The Company
may, at the discretion of the Board of Directors, sponsor new pension plans to be administered by a closed entity, under the defined contribution
modality, intended for its employees. The Board of</P>


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    <!-- Field: /Page -->

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify">Directors, at the time of approval, shall
deliberate on the conditions to be provided in the respective regulation, as well as on the percentage of the sponsor&rsquo;s contribution,
observing the applicable legislation.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 59 </B>&ndash; The Company shall
observe the shareholders' agreements filed at the headquarters, expressly prohibiting the members of the presiding Board of meeting works
or Board of Directors meetings from accepting a vote declaration from any shareholder, signatory of a shareholders' agreement duly filed
at the headquarters or from a Board member elected by the signatories of such agreement, that is cast in disagreement with what has been
agreed upon in the said agreement. The Company is also expressly prohibited from accepting and proceeding with the transfer of shares
and/or the encumbrance and/or assignment of preemptive rights to subscribe shares and/or other securities that do not respect what is
stipulated and regulated in a shareholders' agreement filed at the headquarters.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>Sole paragraph </B>&ndash; The Company
will not file any shareholders' agreement that conflicts with the provisions of these Bylaws.</P>

<P STYLE="font: 9pt/120% Verdana, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><B>ARTICLE 60 - </B>Matters not covered
in these Bylaws will be resolved by the General Meeting and regulated by applicable law.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5pt; text-align: justify"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt">&nbsp;</DIV>
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<P></P>

<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;June 19, 2024</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>Catia Cristina Teixeira Pereira</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: Catia Cristina Teixeira Pereira </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>

<P></P>

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