<SEC-DOCUMENT>0001193125-18-179368.txt : 20180531
<SEC-HEADER>0001193125-18-179368.hdr.sgml : 20180531
<ACCEPTANCE-DATETIME>20180531061903
ACCESSION NUMBER:		0001193125-18-179368
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180531
FILED AS OF DATE:		20180531
DATE AS OF CHANGE:		20180531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRAPAR HOLDINGS INC
		CENTRAL INDEX KEY:			0001094972
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS DISTRIBUTION [4924]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14950
		FILM NUMBER:		18869951

	BUSINESS ADDRESS:	
		STREET 1:		AV BRIGADERIO LUIZ ANTONIO 1343
		STREET 2:		9 ANDAR SAO PAULO
		CITY:			SP BRAZIL 01350-900
		STATE:			D5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d585475d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Form <FONT STYLE="white-space:nowrap">6-K</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Report Of Foreign Private Issuer </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant To Rule <FONT STYLE="white-space:nowrap">13a-16</FONT> Or <FONT STYLE="white-space:nowrap">15d-16</FONT> Of </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>The Securities Exchange Act Of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">For the month of May, 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Commission File Number: <FONT STYLE="white-space:nowrap">001-14950</FONT> </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>ULTRAPAR HOLDINGS INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Translation of Registrant&#146;s Name into English) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Avenida Brigadeiro Luis Antonio,
1343, 9&ordm; Andar </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>S&atilde;o Paulo, SP, Brazil <FONT STYLE="white-space:nowrap">01317-910</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Address of Principal Executive Offices) </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F:</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 20-F
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Form 40-F <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as
permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as
permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
</TABLE> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PUBLICLY LISTED COMPANY </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CNPJ N&ordm; 33.256.439/0001-39 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NIRE 35.300.109.724 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">S&atilde;o Paulo,
May&nbsp;31, 2018 &#150; Ultrapar Participa&ccedil;&otilde;es S.A. (&#147;Ultrapar&#148; or &#147;Company&#148;), hereby informs that it has filed its Brazilian Annual Report (<I>Formul&aacute;rio de Referencia</I>) for the year ended
December&nbsp;31, 2017 with the <I>Comiss&atilde;o de Valores Mobili&aacute;rios brasileira</I> (&#147;CVM&#148;) on May&nbsp;30, 2018. Except for the information described below, the Company believes that its above referenced Brazilian Annual
Report filed with the CVM includes materially the same information included in its Form <FONT STYLE="white-space:nowrap">20-F</FONT> filed with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) on April&nbsp;9, 2018 (&#147;Original
Form <FONT STYLE="white-space:nowrap">20-F),</FONT> as amended by Amendment no. 1 to Form <FONT STYLE="white-space:nowrap">20-F</FONT> filed with the SEC on May&nbsp;4, 2018 (together with the Original Form
<FONT STYLE="white-space:nowrap">20-F,</FONT> the &#147;Form <FONT STYLE="white-space:nowrap">20-F&#148;),</FONT> and as updated by Forms <FONT STYLE="white-space:nowrap">6-K</FONT> furnished to the SEC following April&nbsp;9, 2018. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Recent Developments </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;21, 2018,
Brazilian truck drivers announced a nationwide strike demanding a reduction in tariffs imposed on diesel and changes to the fuel pricing policy currently adopted by Petrobras. This nationwide strike, which includes the obstruction and blockage of
highways and other public transport networks across the country, has affected the delivery of all types of cargo and has prevented the Company from carrying out its activities and operations in the ordinary course of business. After fruitless
negotiations between the Federal Government of the Republic of Brazil (&#147;Federal Government&#148;) and the Brazilian truck driver&#146;s representatives, the Federal Government issued the decree &#147;Guaranteeing Law and Order&#148; (<I>Decreto
Garantia da Lei e da Ordem</I>) on May&nbsp;25, 2018 which authorized the intervention by the military and federal police forces to clear the obstructions in place on the highways and other transport networks. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">During this ongoing nationwide strike, the Brazilian National Agency of Petroleum (<I>Ag&ecirc;ncia Nacional do Petr&oacute;leo</I> or &#147;ANP&#148;) has
passed a number of exceptional measures to remain in effect while the strike is ongoing to avoid fuel shortages and Liquefied Petroleum Gas (LPG), including (i)&nbsp;fuel distributors will be permitted to sell any brand of fuel to fueling station
companies instead of only being permitted to sell fuel pertaining to the brand the fueling station is affiliated with, (ii)&nbsp;authorizing transporters resellers retailers (<I>transportadores revendedores retalhistas</I> or &#147;TRRs&#148;) to
sell to reseller fuel stations, and (iii)&nbsp;authorizing LPG distributors to bottle gas in containers of other brands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;27, 2018, the
Federal Government announced the implementation of measures aimed at meeting the demands made by the Brazilian truck drivers in an attempt to put an end to the nationwide strike. It was announced that (i)&nbsp;the price of diesel at the pump would
be reduced by R$0.46 for sixty (60)&nbsp;days and thereafter adjusted on a monthly basis until the end of 2018, (ii) no tariffs will be levied on vehicles with suspended axles at road tolls and (iii)&nbsp;certain provisional measures were amended to
require the National Supply Company (<I>Companhia Nacional de Abastecimento</I> or &#147;Conab&#148;) to hire 30% of the independent truck drivers for its freight and to establish a minimum value of the freight under the nationally used table. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;29, 2018, the Administrative Council for Economic Defense (<I>Conselho Administrativo de Defesa Econ&ocirc;mica </I>or &#147;CADE&#148;) presented
a proposal entitled &#147;Rethinking the fuel sector: competitive measures&#148; with the objective of stimulating a discussion on regulation between various governmental agencies to increase competition within the sector which would consequently
reduce the price charged to consumers. In general terms, there were nine (9)&nbsp;proposals on amendments to current tax and regulatory legislation and other general matters. The proposal included: (i)&nbsp;authorize ethanol producers to sell
directly to fuel stations which is currently prohibited, (ii)&nbsp;reevaluate the vertical integration of the fuel retail sector, (iii)&nbsp;authorize distributors to import fuel, which is currently prohibited, (iv)&nbsp;disclose to consumers
information which include the name of the fuel reseller, how many fuel stations the reseller owns and how many fuel brands is the reseller affiliated with, (v)&nbsp;improve the availability of information regarding the commercialization of fuel,
(vi)&nbsp;reevaluate the substitution regime of the ICMS tax, (vii)&nbsp;reevaluate the manner in which fuel is taxed, (viii)&nbsp;allow auto service fuel stations, and (ix)&nbsp;reevaluate the rules which deal with the competitive use of urban
space. Although these proposals have no binding effect, they may result in the future implementation of the aforementioned proposals. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;29, the
distributors Ra&iacute;zen, Petrobras Distribuidora and Ipiranga adjusted the terms of the Fuel Crisis Protocol (the &#147;Protocol&#148;) which, if approved by CADE and ANP, will remain in effect for a maximum of fifth teen (15)&nbsp;days counted
from the date of approval. This Protocol aims to implement rules to govern the mutual logistical cooperation amongst the signatory parties to optimize the storage, transportation and distributions of liquid fuels and aviation fuel with the sole
purpose of normalizing the supply of fuel to authorities and to civilians. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Up until May&nbsp;30, 2018, notwithstanding the measures implemented by the Federal Government, the nationwide
strikes were still ongoing, with obstructions along highways and irregular fuel supply. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the Federation of Petroleum Tankers
(<I>Federa&ccedil;&atilde;o &Uacute;nica dos Petroleiros</I>) announced a strike by the oil tankers for a period of seventy two (72)&nbsp;hours counted from the date May&nbsp;30, 2018 and could potentially include the participation of other similar
organizations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Due to the nationwide strike by the Brazilian truck drivers, all sectors of the Brazilian economy as well as the operations of the
Company&#146;s business have been adversely affected, which could in turn result in an adverse effect on the Company&#146;s results. Additional strikes, the exceptional measures adopted by the Federal Government and the potential adoption of further
measures by the Federal Government may continue to impact the Company&#146;s business operations and results. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Update of Risk Factors </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Risk Factors titled &#147;<I>Petrobras is the main supplier of LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels in Brazil. Fuel and LPG
distributors in Brazil, including Ipiranga and Ultragaz, have formal contracts with Petrobras for the supply of <FONT STYLE="white-space:nowrap">oil-derivatives.</FONT> Any interruption in the supply of LPG or
<FONT STYLE="white-space:nowrap">oil-based</FONT> fuels from Petrobras would immediately affect Ultragaz or Ipiranga&#146;s ability to provide LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels to their customers</I>&#148; and
&#147;<I>We may be adversely affected by changes to specific laws and regulations in our operating sectors</I>&#148; included in the Company&#146;s Form <FONT STYLE="white-space:nowrap">20-F</FONT> have been revised in the Company&#146;s Brazilian
Annual Report filed with the CVM on May&nbsp;30, 2018 to reflect recent developments described above. Please see the revised and updated Risk Factors below: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Petrobras is the main supplier of LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels in Brazil. Fuel and LPG distributors in Brazil,
including Ipiranga and Ultragaz, have formal contracts with Petrobras for the supply of <FONT STYLE="white-space:nowrap">oil-derivatives.</FONT> Any interruption in the supply of LPG or <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels would
immediately affect Ultragaz or Ipiranga&#146;s ability to provide LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels to their customers. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to 1995, Petrobras held a constitutional monopoly for the production and importation of petroleum products in Brazil. Although this monopoly was removed
from the Brazilian constitution, Petrobras effectively remains the main provider of LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels in Brazil. Currently, Ultragaz and all other LPG distributors in Brazil purchase all or nearly all
LPG from Petrobras. Ultragaz&#146;s net revenue from sales and services represented 8% of our consolidated net revenue from sales and services for the year ended December&nbsp;31, 2017. The procedures for ordering and purchasing LPG from Petrobras
are generally common to all LPG distributors &#151; including Ultragaz. For more details, see &#147;Item 4.B. Information on the Company &#151; Business Overview &#151; Distribution of Liquefied Petroleum Gas &#151; Ultragaz &#151; Supply of
LPG.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to fuel distribution, Petrobras also supplied the majority of Ipiranga and other distributors&#146; <FONT
STYLE="white-space:nowrap">oil-based</FONT> fuel requirements in 2017. Petrobras&#146; supply to Ipiranga is governed by an annual contract, under which the supply volume is established based on the volume purchased in the previous year.
Ipiranga&#146;s net revenue from sales and services represented 85% of our consolidated net revenue from sales and services for the year ended December&nbsp;31, 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Petrobras is currently under investigation by the CVM, the SEC, the U.S. Department of Justice (DOJ), the Brazilian Federal Police and other Brazilian public
authorities in connection with corruption allegations (so called <I>Lava Jato</I> investigations) consisting, among other things, of illegal payments made to officers, directors and other employees of Petrobras to influence commercial decisions. In
addition, Petrobras is subject to securities litigation (including class actions) in the United States. Such investigations and litigation have had a destabilizing effect on Petrobras, and it is difficult to ascertain what impact the investigations
and litigation will have on Petrobras&#146; supply of LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels to market players. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Significant
interruptions of LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuel supply from Petrobras may occur. Any interruption in the supply of LPG or <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels will immediately affect Ultragaz or
Ipiranga&#146;s respective ability to provide LPG or <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels to its customers. If we are not able to obtain an adequate supply of LPG or <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels from
Petrobras under acceptable terms, we may seek to meet our demands through LPG or <FONT STYLE="white-space:nowrap">oil-based</FONT> fuels purchased on the international market. The logistics infrastructure for LPG and
<FONT STYLE="white-space:nowrap">oil-based</FONT> fuel imports in Brazil is limited and is substantially all controlled by Petrobras. Any such interruption may increase our purchase costs and reduce our sales volume, consequently, adversely
affecting our operating margins. </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Before May&nbsp;21, 2018, the last significant interruption of oil based fuels to LPG and fuel distributors
happened in the year 1995 due to a labor strike which lasted for fifteen (15)&nbsp;days and was organized by Petrobras workers. However, on May&nbsp;21, 2018, Brazilian truck drivers announced a nationwide strike demanding a reduction in tariffs
imposed on diesel and an amendment to the fuel pricing policy currently adopted by Petrobras. The nationwide strike also involves the obstruction of highways and other public roadways all over the country which have affected the delivery of various
types of cargo and prevented us from carrying out our activities and operations in a normal manner. Amongst the impacts caused by the nationwide strike, the Brazilian National Agency of Petroleum (<I>Ag&ecirc;ncia Nacional do Petr&oacute;leo</I> or
&#147;ANP&#148;) issued a series of exceptional measures to remain in effect while the strike is ongoing to avoid fuel shortages. The Brazilian Federal Government has also announced the implementation of measures aimed at meeting the demands made by
the Brazilian truck drivers in an attempt to put an end to the nationwide strike. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The nationwide strike currently taking place and the measures adopted
in response have a direct impact to our business and results. Current nationwide strikes as well as further strikes and any additional measures to be implemented by the Brazilian Federal Government and regulating agencies in response may also affect
our operations and further adversely impact our results. Up until May&nbsp;30, 2018, notwithstanding the measures already implemented by the Brazilian Federal Government, the nationwide strikes continue to take place, including the obstruction of
highways and irregular fuel supply. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, Petrobras has made several changes to the composition of its management team and has undertaken a
long-term divestment plan that may change the structure and long-term outlook of the fuel market. We cannot predict the outcome that the <I>Lava Jato</I> investigations will have on the fuel market and, specifically, on the availability of, and our
ability to access, the LPG and <FONT STYLE="white-space:nowrap">oil-based</FONT> fuel supply from Petrobras </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>We may be adversely affected by changes
to specific laws and regulations in our operating sectors. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are subject to extensive federal, state and local legislation and regulation by
government agencies and sector associations in the industries we operate. Rules related to quality of products, days of product storage, staff working hours, among others, may become more stringent or be amended overtime, and require new investments
or the increase in expenses to adequate our operations. Changes in specific laws and regulations in the sectors we operate may adversely affect the conditions under which we operate in ways that could have a materially negative effect on our
business and our results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;21, 2018, Brazilian truck drivers announced a nationwide strike demanding a reduction in tariffs imposed on diesel
and an amendment to the pricing policy regarding fuel currently in effect and adopted by Petrobras. The nationwide strike also involves the obstruction of highways and other public roadways all over the country which have affected the delivery of
various types of cargo and prevented us from carrying out our activities and operations in a normal manner. Amongst the impacts caused by the nationwide strike, the Brazilian National Agency of Petroleum (<I>Ag&ecirc;ncia Nacional do
Petr&oacute;leo</I> or &#147;ANP&#148;) issued a series of exceptional measures to remain in effect while the strike is ongoing to avoid fuel shortages. The Brazilian Federal Government has also announced measures attending to the demands made by
the Brazilian truck drivers aiming to put an end to the nationwide strike. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The nationwide strike currently taking place and the measures adopted in
response have a direct impact to our business and results. Current nationwide strikes as well as further strikes and any additional measures to be implemented by the Brazilian Federal Government and regulating agencies in response may also affect
our operations and further adversely impact our results. Up until May&nbsp;30, 2018, notwithstanding the measures already implemented by the Brazilian Federal Government, the nationwide strikes continue to take place, including the obstruction of
highways and irregular fuel supply. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SIGNATURES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family: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. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: May&nbsp;31, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="5"><B>ULTRAPAR HOLDINGS INC.</B></TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Andre Pires de Oliveira Dias</P></TD></TR>
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<TD VALIGN="top">Name:</TD>
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<TD VALIGN="top" COLSPAN="3">Andre Pires de Oliveira Dias</TD></TR>
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<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top" COLSPAN="3">Chief Financial and Investor Relations Officer</TD></TR>
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