<SEC-DOCUMENT>0001104659-22-119497.txt : 20221116
<SEC-HEADER>0001104659-22-119497.hdr.sgml : 20221116
<ACCEPTANCE-DATETIME>20221116151500
ACCESSION NUMBER:		0001104659-22-119497
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20221116
FILED AS OF DATE:		20221116
DATE AS OF CHANGE:		20221116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GERDAU S.A.
		CENTRAL INDEX KEY:			0001073404
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14878
		FILM NUMBER:		221394761

	BUSINESS ADDRESS:	
		STREET 1:		AV DOUTORA RUTH CARDOSO, 8,501
		STREET 2:		8TH FLOOR
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			05425-070
		BUSINESS PHONE:		011-55-51-3323-2703

	MAIL ADDRESS:	
		STREET 1:		AV DOUTORA RUTH CARDOSO, 8,501
		STREET 2:		8TH FLOOR
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			05425-070

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERDAU SA
		DATE OF NAME CHANGE:	19981112
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2230741d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>U.S.
</B></FONT><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Washington</B></FONT><B>,
D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>SECURITIES
EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated November&nbsp;16, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number 1-14878</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GERDAU S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of Registrant&rsquo;s Name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Av. Dra. Ruth Cardoso, 8,501 &ndash; 8&deg; andar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">S&atilde;o Paulo, S&atilde;o Paulo - Brazil CEP
05425-070</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive
offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
the registrant files or will file annual reports under cover Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 20%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="width: 80%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark if
the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark if
the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant
to Rule&nbsp;12g3-2(b)&nbsp;under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 15%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="width: 85%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If &ldquo;Yes&rdquo; is marked,
indicate below the file number assigned to the registrant in connection with Rule&nbsp;12g3-2(b): Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused the Report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date:&nbsp;&nbsp;November&nbsp;16, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">GERDAU S.A.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">/s/ Rafael Dorneles Japur</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Rafael Dorneles Japur</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Executive Vice President Investor Relations Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT&nbsp;INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 10%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit</U></FONT></TD>
<TD STYLE="width: 90%; font-size: 10pt; text-align: justify"><U>Description of Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><A HREF="tm2230741d1_ex99-1.htm">99.1 </A></TD>
<TD><A HREF="tm2230741d1_ex99-1.htm">MINUTES OF THE MEETING OF THE EXECUTIVE BOARD, NOVEMBER 7, 2022.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2230741d1_ex99-2.htm">99.2 </A></TD>
<TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2230741d1_ex99-2.htm">MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS, NOVEMBER 8, 2022.</A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2230741d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GERDAU S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CNPJ No.&nbsp;33.611.500/0001-19</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NIRE 35300520696</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Publicly Traded Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>MINUTES OF THE MEETING OF THE EXECUTIVE BOARD
HELD AT THE HEADQUARTERS, AT AVENIDA DOUTORA RUTH CARDOSO, 8501, 8&ordm; ANDAR, CONJUNTO 2, PINHEIROS, S&Atilde;O PAULO, SP, BRAZIL, AT
4:30 PM, ON NOVEMBER 7, 2022.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. The meeting was attended by all members of
the Executive Board of Gerdau S.A. (&ldquo;Company&rdquo;), chaired by Gustavo Werneck da Cunha, Managing Director, with Daniela Derzi
Barretto acting as secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. The Executive Board, unanimously, pursuant
to the provisions of the relevant legislation and the Bylaws, decided to present the proposal to the Board of Directors relating to the
credit on 11/21/2022 and payment to shareholders, as from 12/14/2022, of (i)&nbsp;<B><U>interest on equity</U></B> calculated at a rate
of forty-two centavos (R$0.42) per share, common and preferred, and (ii)&nbsp;<B>dividends</B> calculated at a rate of one Brazilian real
and seventy-three centavos (R$1.73) per share, common and preferred, registered in the records of the Depository Institution of the Company&rsquo;s
Shares, on the credit date. Considering the outstanding shares on the present date, the payment of (i)&nbsp;<B><U>interest on equity</U></B>
represents the amount of six hundred and ninety-eight million, six hundred and ninety-three thousand, nine hundred and forty-eight seven
Brazilian reais and sixty-two centavos (R$698,693,947.62), and that of (ii)&nbsp;<B><U>dividends</U></B> represent the amount of two billion,
eight hundred and seventy-seven million, nine hundred and fifty-three thousand, six hundred and forty-one Brazilian reais and forty centavos
(R$2,877,953,641.40) and constitute the anticipation of the minimum mandatory dividend stipulated in the Bylaws, referring to the current
fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3. Without further ado, the meeting was adjourned.
Signatures: Board: Gustavo Werneck da Cunha (Chairman) and Daniela Derzi Barretto (Secretary). Directors: Gustavo Werneck da Cunha (Managing
Director), Rafael Dorneles Japur, Marcos Eduardo Faraco Wahrhaftig, Fernando Pessanha Santos, Rubens Fernandes Pereira (Deputy Managing
Directors), Cesar Obino da Rosa Peres, F&aacute;bio Eduardo de Pieri Spina, Fladimir Batista Lopes Gauto , Hermenio Pinto Gon&ccedil;alves,
Mauro de Paula, and Wendel Gomes da Silva (Directors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Declaration</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">I hereby declare that this is a true copy of the
minutes transcribed in the relevant book.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">S&atilde;o Paulo, November&nbsp;7, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Daniela Derzi Barretto</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2230741d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GERDAU S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CNPJ No.&nbsp;33.611.500/0001-19</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NIRE 35300520696</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Publicly Traded Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS
HELD AT THE HEADQUARTERS, AT AVENIDA DOUTORA RUTH CARDOSO, 8501, 8&ordm; ANDAR, CONJUNTO 2, PINHEIROS, S&Atilde;O PAULO, SP, BRAZIL, AT
9:40 AM, on NOVEMBER 8, 2022.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. The meeting was attended by all the members
of the Board of Directors, pursuant to the Internal Regulations, as well as the Supervisory Board, chaired by Guilherme Chagas Gerdau
Johannpeter, with F&aacute;bio Eduardo de Pieri Spina acting as secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. The Board, pursuant to &sect; 8 of Article&nbsp;19
and Article&nbsp;6, &sect; 5, item &ldquo;w&rdquo; of the Bylaws, unanimously decided to approve the proposal of the Executive Board,
dated 11/7/2022, relating to the credit on 11/21/2022 and payment to shareholders, as from 12/14/2022, of (i)&nbsp;<B><U>interest on equity</U></B>
calculated at a rate of forty-two centavos (R$0.42) per share, common and preferred, and (ii)&nbsp;<B><U>dividends</U></B> calculated
at a rate of one Brazilian real and seventy-three centavos (R$1.73) per share, common and preferred, registered in the records of the
Depository Institution of the Company&rsquo;s Shares, on the credit date. Considering the outstanding shares on the present date, the
payment of (i)&nbsp;<B><U>interest on equity</U></B> represents the amount of six hundred and ninety-eight million, six hundred and ninety-three
thousand, nine hundred and forty-eight seven Brazilian reais and sixty-two centavos (R$698,693,947.62), and that of (ii)&nbsp;<B><U>dividends</U></B>
represent the amount of two billion, eight hundred and seventy-seven million, nine hundred and fifty-three thousand, six hundred and forty-one
Brazilian reais and forty centavos (R$2,877,953,641.40) and constitute the anticipation of the minimum mandatory dividend stipulated in
the Bylaws, referring to the current fiscal year. The amounts of interest on equity will be paid with withholding income tax at source,
in accordance with current legislation, with the exception of corporate shareholders who are exempt from withholding income tax at source
and who prove this condition by 11/23/2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3. The Board of Directors, after discussing the
matter, pursuant to the Company&rsquo;s Bylaws and CVM Resolution No.&nbsp;77, of March&nbsp;29, 2022, unanimously approved the cancellation
of 1,697,538 common shares and 44,564,000 preferred shares, all without par value, issued by the Company, without reducing the value of
the capital stock. As a result of the cancellation of shares herein approved, the Company&rsquo;s capital stock is now divided into 571,929,945
common shares and 1,101,467,245 preferred shares, all without par value. The respective amendment to Article&nbsp;4 of the Company&rsquo;s
Bylaws to reflect the cancellation of shares will be resolved at a general meeting to be convened in due course. The Company&rsquo;s managers
are hereby authorized to take all the necessary measures to implement the resolution herein approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4. Without further ado, the meeting was adjourned.
Signatures: Board: Guilherme Chagas Gerdau Johannpeter (Chairman) and F&aacute;bio Eduardo de Pieri Spina (Secretary). Directors: Guilherme
Chagas Gerdau Johannpeter (Chairman), Andr&eacute; Bier Gerdau Johannpeter (Deputy Chairman), Claudio Johannpeter (Deputy Chairman), Gustavo
Werneck da Cunha, Claudia Sender Ramirez, Augusto Bra&uacute;na Pinheiro, and Alberto Fernandes (Directors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Declaration</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">I hereby declare that this is a true copy of the
minutes transcribed in the relevant book.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">S&atilde;o Paulo, November&nbsp;8, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">F&aacute;bio Eduardo de Pieri Spina</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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