<SEC-DOCUMENT>0001554855-21-000595.txt : 20210929
<SEC-HEADER>0001554855-21-000595.hdr.sgml : 20210929
<ACCEPTANCE-DATETIME>20210928212808
ACCESSION NUMBER:		0001554855-21-000595
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210929
FILED AS OF DATE:		20210929
DATE AS OF CHANGE:		20210928

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:		211289017

	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>MainDocument.htm
<DESCRIPTION>6-K
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">UNITED STATES</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">Washington, D.C. 20549</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 15pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">Form 6-K</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times;"><font style="font-weight: bold;">Report </font><font style="font-weight: bold;">o</font><font style="font-weight: bold;">f Foreign Private Issuer</font></font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times;"><font style="font-weight: bold;">Pursuant </font><font style="font-weight: bold;">t</font><font style="font-weight: bold;">o Rule 13a-16 Or 15d-16 Of</font></font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">The Securities Exchange Act Of 1934</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">For the month of September 2021</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">Commission File Number: 001-14950</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 14.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; border-bottom: 0.75pt solid #000000; padding-bottom: 1pt; font-size: 8pt;"><font style="font-family: 'times new roman', times;">(Translation of Registrant&#8217;s Name into English)</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;"><font style="font-weight: bold;">Brigadeiro Luis Antonio</font><font style="font-weight: bold;"> </font><font style="font-weight: bold;">Avenue</font><font style="font-weight: bold;">, 1343, </font><font style="font-weight: bold;">9</font><font style="font-size: 6pt; font-weight: bold; vertical-align: super;">th</font><font style="font-weight: bold;"> </font><font style="font-weight: bold;">f</font><font style="font-weight: bold;">loor</font></font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">S&#227;o Paulo, SP, Brazil 01317-910</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; border-bottom: 0.75pt solid #000000; padding-bottom: 1pt; font-size: 8pt;"><font style="font-family: 'times new roman', times;">(Address of Principal Executive Offices)</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 8pt;"><font style="font-family: 'times new roman', times;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 8pt;"><font style="font-family: 'times new roman', times;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">Form 20-F ____<font style="text-decoration: underline;">X</font>____ <font style="width: 24.34pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font>Form 40-F ________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 8pt;"><font style="font-family: 'times new roman', times;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">Yes ________ <font style="width: 18.49pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font>No ____<font style="text-decoration: underline;">X</font><font style="text-decoration: underline;">____</font></font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 8pt;"><font style="font-family: 'times new roman', times;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 8pt;"><font style="font-family: 'times new roman', times;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 9pt;"><font style="font-family: 'times new roman', times;">Yes ________ <font style="width: 18.49pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font>No ____<font style="text-decoration: underline;">X</font><font style="text-decoration: underline;">____</font></font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: center; line-height: 115%; font-size: 9pt;"><font style="font-family: 'times new roman', times;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: center; line-height: 115%; font-size: 13pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: center; line-height: 115%; font-size: 13pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">TABLE OF CONTENTS</font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; line-height: 115%; font-size: 12.5pt;"><font style="font-family: 'times new roman', times; font-weight: bold;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; line-height: 115%; font-size: 13pt;"><font style="font-family: 'times new roman', times; font-weight: bold; text-decoration: underline;">ITEM</font><br></p>
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<td style="height: 21px; width: 37.5%;"><font style="font-family: 'times new roman', times;"><a href="#B111_0L81TJZEZ400000000000000000000">1. Shareholders' Agreement of Ultrapar Participa&#231;&#245;es S.A.</a></font></td>
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<td style="height: 17px;"><font style="font-family: 'times new roman', times;"><a href="#B222_PS6M6TFP8000000000000000000000">2. Material Notice</a></font></td>
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<p style="border: 0px; box-sizing: border-box; margin: 0pt 0px 8pt; color: #333333; font-family: Roboto, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 15.84px; font-size: 11pt;"><font style="border: 0px; box-sizing: border-box; font-family: Calibri;">&nbsp;</font></p>
<p style="border: 0px; box-sizing: border-box; margin: 0pt 0px 8pt; color: #333333; font-family: Roboto, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 15.84px; font-size: 11pt;"><font style="border: 0px; box-sizing: border-box; font-family: Calibri;">&nbsp;</font></p>
<p style="border: 0px; box-sizing: border-box; margin: 0pt 0px 8pt; color: #333333; font-family: Roboto, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 15.84px; font-size: 11pt;"><font style="border: 0px; box-sizing: border-box; font-family: Calibri;">&nbsp;</font></p>
<p style="border: 0px; box-sizing: border-box; margin: 0pt 0px 8pt; color: #333333; font-family: Roboto, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: center; line-height: 28.8px; font-size: 20pt;"><font style="font-size: 20pt;"><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">Shareholders</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">'&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">Agreement</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">dated</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">August 18,&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">2020&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">amended</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">by</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">the</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">t</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">erm</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">of</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">a</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">dhesion</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">dated</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">August 31,&nbsp;</font><font style="border: 0px; box-sizing: border-box; font-family: 'Century Gothic'; font-weight: bold; color: #002658;">2021</font></font></p>
<p style="border: 0px; box-sizing: border-box; margin: 0pt 0px 8pt; color: #333333; font-family: Roboto, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: center; line-height: 23.04px; font-size: 16pt;"><font style="border: 0px; box-sizing: border-box; font-family: 'Open Sans'; font-weight: bold; color: #002658;">&nbsp;</font></p>
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<div style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B111_0L81TJZEZ400000000000000000000" class="customBookmark"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SHAREHOLDERS' AGREEMENT OF </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></a></div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">By the present private instrument and in the best terms of the law,</font></p>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>ULTRA S.A. PARTICIPA&#199;&#213;ES</font><font style="font-weight: normal;">, a</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">corporation </font><font style="font-weight: normal;">with headquarters</font><font style="font-weight: normal;"> at </font><font style="font-weight: normal;">Avenida </font><font style="font-weight: normal;">Brigadeiro</font><font style="font-weight: normal;"> Lu&#237;s Ant&#244;nio, No. 1.343</font><font style="font-weight: normal;">, in the </font><font style="font-weight: normal;">City</font><font style="font-weight: normal;"> of </font><font style="font-weight: normal;">S&#227;o Paulo</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">State</font><font style="font-weight: normal;"> of </font><font style="font-weight: normal;">S&#227;o Paulo</font><font style="font-weight: normal;">, enrolled in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under </font><font style="font-weight: normal;">N</font><font style="font-weight: normal;">o. </font><font style="font-weight: normal;">54.041.439/0001-91</font><font style="font-weight: normal;">, here</font><font style="font-weight: normal;">in represented pursuant to its </font><font style="font-weight: normal;">by-laws</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Ultra</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">); and </font></li>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font>PARTH DO BRASIL PARTICIPA&#199;&#213;ES LTDA.</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> a </font><font style="font-weight: normal;">limited liability company </font><font style="font-weight: normal;">with headquarters</font><font style="font-weight: normal;"> at </font><font style="font-weight: normal;">Rua</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Visconde</font><font style="font-weight: normal;"> de </font><font style="font-weight: normal;">Piraj&#225;</font><font style="font-weight: normal;">, No. 547, Room 1,115 (part), Ipanema</font><font style="font-weight: normal;">, in the City</font><font style="font-weight: normal;"> of </font><font style="font-weight: normal;">Rio de Janeiro</font><font style="font-weight: normal;">, State</font><font style="font-weight: normal;"> of </font><font style="font-weight: normal;">Rio de Janeiro</font><font style="font-weight: normal;">, enrolled in the </font><font style="font-weight: normal;">Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) </font><font style="font-weight: normal;">under </font><font style="font-weight: normal;">N</font><font style="font-weight: normal;">o. </font><font style="font-weight: normal;">20.992.266/0001-75</font><font style="font-weight: normal;">, herein represented pursuant to its articles of association (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Parth</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">and, jointly with </font><font style="font-weight: normal;">Ultra</font><font style="font-weight: normal;">, hereinafter referred to as </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Holdings</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> or </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Parties</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">or</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Holding</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> or </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Party</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> when </font><font style="font-weight: normal;">referred to individually); </font></li>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">And in</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the capa</font><font style="font-family: Cambria; font-size: 12pt;">c</font><font style="font-family: Cambria; font-size: 12pt;">ity</font><font style="font-family: Cambria; font-size: 12pt;"> as consenting intervening parties and bound by the provisions of this Agreement;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font>ANA MARIA LEVY VILLELA IGEL</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">the holder of the Brazilian identity card (RG) No.</font><font style="font-weight: normal;"> </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">and of the Brazilian </font><font style="font-weight: normal;">Individual Taxpayer Register Identification </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">CPF</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">No.</font><font style="font-weight: normal;"> </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Ana Maria Levy </font><font style="text-decoration: underline;">Villela</font><font style="text-decoration: underline;"> Igel</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>FABIO IGEL</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Fabio Igel</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font>M&#193;RCIA IGEL JOPPERT</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">M&#225;rcia</font><font style="text-decoration: underline;"> Igel </font><font style="text-decoration: underline;">Joppert</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="6" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font>ROG&#201;RIO IGEL</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">and of the Brazilian Individual Taxpayer Register Identification (CPF) No.</font><font style="font-weight: normal;"> </font><font style="font-weight: normal; background-color: #000000; -aw-import: spaces;">&nbsp;</font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Rog&#233;rio</font><font style="text-decoration: underline;"> Igel</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><br></p>
<ol start="7" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font>JOYCE IGEL DE CASTRO ANDRADE</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Joyce Igel de Castro Andrade</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="8" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font>LUCIO DE CASTRO ANDRADE FILHO</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Lucio de Castro Andrade Filho</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="9" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 20.51pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font>PEDRO WONGTSCHOWSKI</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Pedro Wongtschowski</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="10" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>CHRISTY PARTICIPA&#199;&#213;ES LTDA.</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a limited liability company with headquarters at </font><font style="font-weight: normal;">Rua</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Visconde</font><font style="font-weight: normal;"> de </font><font style="font-weight: normal;">Piraj&#225;</font><font style="font-weight: normal;">, 351, Rooms 916 and 917, Ipanema, in the </font><font style="font-weight: normal;">City</font><font style="font-weight: normal;"> of Rio de Janeiro, </font><font style="font-weight: normal;">State</font><font style="font-weight: normal;"> of Rio de Janeiro, enrolled in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under No. 33.363.896/0001-22, herein represented pursuant to its articles of association by</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">H&#233;lio</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Marcos Coutinho </font><font style="font-weight: normal;">Beltr&#227;o</font><font style="font-weight: normal;"> duly qualified herein below</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Christy </font><font style="text-decoration: underline;">Participa&#231;&#245;</font><font style="text-decoration: underline;">es</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="11" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>H&#201;LIO MARCOS COUTINHO BELTR&#195;O, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and o</font><font style="font-weight: normal;">f the Brazilian Individual Taxpayer Register Identification (</font><font style="font-weight: normal;">CPF</font><font style="font-weight: normal;">) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">H&#233;lio</font><font style="text-decoration: underline;"> Marcos Coutinho </font><font style="text-decoration: underline;">Beltr&#227;o</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<ol start="12" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>BRUNO IGEL</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Bruno Igel</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="13" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>ANA ELISA ALVES CORR&#202;A IGEL</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">-SP, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Ana Elisa Alves </font><font style="text-decoration: underline;">Corr&#234;a</font><font style="text-decoration: underline;"> Igel</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;">;</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="14" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>ROBERTO DE CASTRO ANDRADE</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Roberto de Castro Andrade</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><br></p>
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<div>
<table style="width: 100%; height: 17px; font-family: 'times new roman'; font-size: 10pt;">

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</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><br></p>
<ol start="15" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>BETTINA DE CASTRO ANDRADE GASPARIAN</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Ta</font><font style="font-weight: normal;">xpayer Register Identification </font><font style="font-weight: normal;">(CPF) </font><font style="font-weight: normal;">No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Bettina de Castro Andrade </font><font style="text-decoration: underline;">Gasparian</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="16" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>ROBERTA JOPPERT FERRAZ</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification </font><font style="font-weight: normal;">(CPF) </font><font style="font-weight: normal;">No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Roberta </font><font style="text-decoration: underline;">Joppert</font><font style="text-decoration: underline;"> Ferraz</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="17" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>SANDRA JOPPERT</font><font style="font-weight: normal;">, a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification </font><font style="font-weight: normal;">(CPF) </font><font style="font-weight: normal;">No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Sandra </font><font style="text-decoration: underline;">Joppert</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; -aw-import: ignore;">&nbsp;</font></p>
<ol start="18" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font>IGELPAR PARTICIPA&#199;&#213;ES S.A.,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">a stock corporation with headquarters in the </font><font style="font-weight: normal;">City</font><font style="font-weight: normal;"> of S&#227;o Paulo, </font><font style="font-weight: normal;">State</font><font style="font-weight: normal;"> of S&#227;o Paulo, at Avenida </font><font style="font-weight: normal;">Brigadeiro</font><font style="font-weight: normal;"> Lu&#237;s Ant&#244;nio, No. 1343, 5th floor, Bela Vista, ZIP CODE 01317-001, enrolled in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under No. 34.622.819/0001-02, herein represented pursuant to </font><font style="font-weight: normal;">its </font><font style="font-weight: normal;">by-laws</font><font style="font-weight: normal;"> (</font><font style="text-decoration: underline;">&#8220;</font><font style="text-decoration: underline;">IgelPar</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<ol start="19" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font>P&#193;TRIA PRIVATE EQUITY VI FIP MULTIESTRAT&#201;GIA</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">i</font><font style="font-weight: normal;">nvestment fund </font><font style="font-weight: normal;">enrolled in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under No. </font><font style="font-weight: normal;">29.447.049/0001-79, </font><font style="font-weight: normal;">herein represented by its manager and administrator</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">P&#225;tria</font><font style="font-weight: normal;"> Investimentos Ltda., </font><font style="font-weight: normal;">headquartered in the</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">City</font><font style="font-weight: normal;"> of</font><font style="font-weight: normal;"> S&#227;o Paulo, </font><font style="font-weight: normal;">State</font><font style="font-weight: normal;"> of</font><font style="font-weight: normal;"> S&#227;o Paulo, </font><font style="font-weight: normal;">at</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Avenida </font><font style="font-weight: normal;">Cidade</font><font style="font-weight: normal;"> Jardim, </font><font style="font-weight: normal;">No.</font><font style="font-weight: normal;"> 803, 8</font><font style="font-weight: normal;">th floor, room </font><font style="font-weight: normal;">A, </font><font style="font-weight: normal;">ZIP CODE </font><font style="font-weight: normal;">01453-000, </font><font style="font-weight: normal;">enrolled in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under No. </font><font style="font-weight: normal;">12.461.756/0001-17, </font><font style="font-weight: normal;">herein represented pursuant to its by-laws </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">FIP </font><font style="text-decoration: underline;">P&#225;tria</font><font style="font-weight: normal;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;"> </font><font style="font-weight: normal;">and, jointly with Ana Maria Levy </font><font style="font-weight: normal;">Villela</font><font style="font-weight: normal;"> Igel, Fabio Igel, </font><font style="font-weight: normal;">M&#225;rcia</font><font style="font-weight: normal;"> Igel </font><font style="font-weight: normal;">Joppert</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">Rog&#233;rio</font><font style="font-weight: normal;"> Igel, Joyce Igel de Castro Andrade,</font><font style="font-weight: normal;"> Lucio de Castro Andrade Filho</font><font style="font-weight: normal;">, Pedro Wongtschow</font><font style="font-weight: normal;">ski, Christy </font><font style="font-weight: normal;">Participa&#231;&#245;es</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">H&#233;lio</font><font style="font-weight: normal;"> Marcos Coutinho </font><font style="font-weight: normal;">Beltr&#227;o</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> Bruno Ige</font><font style="font-weight: normal;">l, Ana Elisa Alves </font><font style="font-weight: normal;">Corr&#234;a</font><font style="font-weight: normal;"> Igel</font><font style="font-weight: normal;">, Roberto de Castro Andrade, Bettina de Castro Andrade </font><font style="font-weight: normal;">Gasparian</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Roberta </font><font style="font-weight: normal;">Joppert</font><font style="font-weight: normal;"> Ferraz</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">Sandra </font><font style="font-weight: normal;">Joppert</font><font style="font-weight: normal;"> and </font><font style="font-weight: normal;">IngelPar</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">hereinafter referred to as </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Ultra</font><font style="text-decoration: underline;"> Partners</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="20" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>BETTINA IGEL HOFFENBERG</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled at the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">represented herein by her attorney-in-fact Mr. Jean Pierre Roy Jr</font><font>.</font><font style="font-weight: normal;">, a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">duly</font><font style="font-weight: normal;"> issued by </font><font style="font-weight: normal;">the OAB/RJ, and of the Brazilian Individual Taxpayer Register Identification (CPF) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, with his professional address in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Bettina Igel Hoffenberg</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><br></p>
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</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><br></p>
<ol start="21" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font>JENNINGS LUIS IGEL HOFFENBERG</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (</font><font style="font-weight: normal;">CPF</font><font style="font-weight: normal;">) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Jennings Luis Igel Hoffenberg</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<ol start="22" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font>PEDRO IGEL DE BARROS SALLES</font><font style="font-weight: normal;">, a Brazilian citizen, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, the holder of the Brazilian identity card (RG) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, and of the Brazilian Individual Taxpayer Register Identification (</font><font style="font-weight: normal;">CPF</font><font style="font-weight: normal;">) No. </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;">, resident and domiciled </font><font style="font-weight: normal;">in the </font><font style="font-weight: normal; background-color: #000000;">xxxxxx</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">(</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Pedro Igel de Barros Salles</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">);</font></li>
</ol>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<li style="text-align: justify; line-height: 17pt; font-family: Cambria; font-size: 12pt; font-weight: bold; list-style-position: inside; -aw-list-padding-sml: 13.4pt;"><font style="font: 7pt 'Times New Roman'; -aw-import: ignore;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font>VENUS QUARTZ LLC</font><font style="font-weight: normal;">, a company duly incorporated and existing under the laws of Delaware, with its main place of business at c/o Withers Bergman LLP, 430 Park Avenue, 9th Floor, New York, NY 10022, represented</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">herein </font><font style="font-weight: normal;">by its attorney-in-fact Mr. Jean Pierre Roy Jr</font><font>.</font><font style="font-weight: normal;"> duly qualified herein above</font><font style="font-weight: normal;"> (</font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Venus</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;">)</font><font style="font-weight: normal;"> and, jointly with </font><font style="font-weight: normal;">Bettina Igel Hoffenberg, Jennings Luis Igel Hoffenberg</font><font style="font-weight: normal;"> and </font><font style="font-weight: normal;">Pedro Igel de Barro</font><font style="font-weight: normal;">s</font><font style="font-weight: normal;"> Salles</font><font style="font-weight: normal;">, </font><font style="font-weight: normal;">hereinafter referred to as </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Parth</font><font style="text-decoration: underline;"> Partners</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">and, jointly with the </font><font style="font-weight: normal;">Ultra</font><font style="font-weight: normal;"> Partners,</font><font style="font-weight: normal;"> are referred to as</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Holdings Partners</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> or a </font><font style="font-weight: normal;">&#8220;</font><font style="text-decoration: underline;">Holding Partner</font><font style="font-weight: normal;">,</font><font style="font-weight: normal;">&#8221;</font><font style="font-weight: normal;"> </font><font style="font-weight: normal;">when referred to</font><font style="font-weight: normal;"> individually</font><font style="font-weight: normal;">.</font></li>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">WHEREAS</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">each Holding holds a material stake in the capital stock of </font><font style="font-family: Cambria; font-size: 12pt;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font><font style="font-family: Cambria; font-size: 12pt;">, a </font><font style="font-family: Cambria; font-size: 12pt;">public</font><font style="font-family: Cambria; font-size: 12pt;">ly-</font><font style="font-family: Cambria; font-size: 12pt;">traded </font><font style="font-family: Cambria; font-size: 12pt;">Brazilian </font><font style="font-family: Cambria; font-size: 12pt;">corporation with headquarters at </font><font style="font-family: Cambria; font-size: 12pt;">Avenida </font><font style="font-family: Cambria; font-size: 12pt;">Brigadeiro</font><font style="font-family: Cambria; font-size: 12pt;"> Lu&#237;s Ant&#244;nio, No. 1.343, </font><font style="font-family: Cambria; font-size: 12pt;">in the </font><font style="font-family: Cambria; font-size: 12pt;">City</font><font style="font-family: Cambria; font-size: 12pt;"> of </font><font style="font-family: Cambria; font-size: 12pt;">S&#227;o Paulo</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">State</font><font style="font-family: Cambria; font-size: 12pt;"> of </font><font style="font-family: Cambria; font-size: 12pt;">S&#227;o Paulo</font><font style="font-family: Cambria; font-size: 12pt;">, enrolled </font><font style="font-family: Cambria; font-size: 12pt;">in the Corporate Taxpayers Registry of the Ministry of Finance (CNPJ) under No. </font><font style="font-family: Cambria; font-size: 12pt;">33.256.439/0001-39</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">(</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> or </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Company</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">);</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">WHEREAS</font><font style="font-family: Cambria; font-size: 12pt;">, the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partners</font><font style="font-family: Cambria; font-size: 12pt;"> wish to </font><font style="font-family: Cambria; font-size: 12pt;">for</font><font style="font-family: Cambria; font-size: 12pt;">m </font><font style="font-family: Cambria; font-size: 12pt;">a representative block of shareholders with the ability to act in a</font><font style="font-family: Cambria; font-size: 12pt;">n</font><font style="font-family: Cambria; font-size: 12pt;"> uniform way in matters involving their interests in the capacity as shareholders of the Company, preserving</font><font style="font-family: Cambria; font-size: 12pt;"> the</font><font style="font-family: Cambria; font-size: 12pt;"> ideals</font><font style="font-family: Cambria; font-size: 12pt;"> of Ernesto Igel</font><font style="font-family: Cambria; font-size: 12pt;"> and </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> history; and</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">WHEREAS</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings and the Holdings Partners wish to provide </font><font style="font-family: Cambria; font-size: 12pt;">for </font><font style="font-family: Cambria; font-size: 12pt;">certain economic rights related to their equity stakes in the Holdings, as well as certain political and economic rights </font><font style="font-family: Cambria; font-size: 12pt;">attached to</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> shares</font><font style="font-family: Cambria; font-size: 12pt;"> held by the Holdings and directly held by the Holdings Partners;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">NOW, THEREFORE</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Parties, with the </font><font style="font-family: Cambria; font-size: 12pt;">intervenience</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the</font><font style="font-family: Cambria; font-size: 12pt;"> consent of the Holdings Partners, hereby enter into this Shareholders' Agreement (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Agreement</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), </font><font style="font-family: Cambria; font-size: 12pt;">which shall be governed by the applicable laws and by the clauses and conditions </font><font style="font-family: Cambria; font-size: 12pt;">provided </font><font style="font-family: Cambria; font-size: 12pt;">hereinbelow:</font></p>
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<h1 style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">SECTION ONE</font></h1>
<h1 style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">PURPOSE AND PRELIMINARY PROVISIONS</font></h1>
<h1 style="margin-top: 0pt; margin-bottom: 0pt; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></h1>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The purpose of this Agreement </font><font style="font-family: Cambria; font-size: 12pt;">is</font><font style="font-family: Cambria; font-size: 12pt;"> to govern the exercise of the voting rights of the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and the</font><font style="font-family: Cambria; font-size: 12pt;"> Holdings Partners in the shareholders meetings of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, as well as set forth rules to be followed for the transfer and encumbrance of any </font><font style="font-family: Cambria; font-size: 12pt;">equity stake in </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> and, in certain events, in the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">1.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partners hereby undertake to exercise their rights in the capa</font><font style="font-family: Cambria; font-size: 12pt;">c</font><font style="font-family: Cambria; font-size: 12pt;">ity</font><font style="font-family: Cambria; font-size: 12pt;"> as shareholders </font><font style="font-family: Cambria; font-size: 12pt;">or usufructuaries of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> and the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; shares</font><font style="font-family: Cambria; font-size: 12pt;">, as </font><font style="font-family: Cambria; font-size: 12pt;">applicable</font><font style="font-family: Cambria; font-size: 12pt;">, so as to ensure compliance with the provisions of this Agreement and to take in good faith any further course of action or measure required to comply with such provisions, in order to make sure that this Agreement materially achieves the purposes described in its provisions.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">1.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holdings Partners shall perform and cause to be performed all acts required to ensure at any time that the corporate documents and the shareholders&#8217; or </font><font style="font-family: Cambria; font-size: 12pt;">quotaholders</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; agreements of each Holding and, as applicable, of each Holding Partner </font><font style="font-family: Cambria; font-size: 12pt;">are</font><font style="font-family: Cambria; font-size: 12pt;"> compatible with and </font><font style="font-family: Cambria; font-size: 12pt;">allow</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> full compliance with</font><font style="font-family: Cambria; font-size: 12pt;"> all provisions of this Agreement, subject to the provisions of Sections 16.5 and 16.7.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">1.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The corporate purpose of the Holdings shall be to hold </font><font style="font-family: Cambria; font-size: 12pt;">interest </font><font style="font-family: Cambria; font-size: 12pt;">in the capital stock of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, being any other business activity prevented.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-style: italic; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION TWO</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">BOUND SHARES AND FREE SHARES</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">2.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">This Agreement shall bind all shares, subscription rights, and securities convertible into shares issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, as well as all </font><font style="font-family: Cambria; font-size: 12pt;">depositary receipt of shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, held </font><font style="font-family: Cambria; font-size: 12pt;">currently or in the future </font><font style="font-family: Cambria; font-size: 12pt;">by the Holdings,</font><font style="font-family: Cambria; font-size: 12pt;"> at any time</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Bound Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">2.1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In the event of a corporate reorganization of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, this Agreement shall automatically and by operation of law be binding on the companies resulting from the corporate transaction, provided that, in the event the corporate reorganization is implemented by means of a </font><font style="font-family: Cambria; font-size: 12pt;">partial </font><font style="font-family: Cambria; font-size: 12pt;">spin-off,</font><font style="font-family: Cambria; font-size: 12pt;"> this Agreement shall continue to be binding on </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> as well.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event of </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> a spin-off of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> with the conveyance of a portion </font><font style="font-family: Cambria; font-size: 12pt;">of its assets to an existing company, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">a merger of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> or of its shares into another company, or </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">a </font><font style="font-family: Cambria; font-size: 12pt;">merger </font><font style="font-family: Cambria; font-size: 12pt;">(amalgamation) </font><font style="font-family: Cambria; font-size: 12pt;">of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> with another company, the signatories of this Agreement shall:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a) </font><font style="font-family: Cambria; font-size: 12pt;">observe in their relationships the provisions of this Agreement as to the shares and other rights and securities that they hold </font><font style="font-family: Cambria; font-size: 12pt;">currently or </font><font style="font-family: Cambria; font-size: 12pt;">in the future </font><font style="font-family: Cambria; font-size: 12pt;">in the </font><font style="font-family: Cambria; font-size: 12pt;">surviving company, in the company resulting from the merger</font><font style="font-family: Cambria; font-size: 12pt;"> (amalgamation)</font><font style="font-family: Cambria; font-size: 12pt;">, or in the company that receives the spun-off portion of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> assets, as the case may be (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">New Company</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">);</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b) </font><font style="font-family: Cambria; font-size: 12pt;">execute a new shareholders' agreement substantially in the terms of this Agreement in order to govern their relationships in the New Company, and file it at the New Company&#8217;s headquarters and caus</font><font style="font-family: Cambria; font-size: 12pt;">e</font><font style="font-family: Cambria; font-size: 12pt;"> it to be recorded in the appropriate </font><font style="font-family: Cambria; font-size: 12pt;">company registers</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">2.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Any shares issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> and </font><font style="font-family: Cambria; font-size: 12pt;">depositary receipt of shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> that are currently or </font><font style="font-family: Cambria; font-size: 12pt;">come to be </font><font style="font-family: Cambria; font-size: 12pt;">held by the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners shall be bound by the voting obligations set forth in this Agreement pursuant to the terms of Section Three below, but they may be freely traded</font><font style="font-family: Cambria; font-size: 12pt;"> for the purposes of this Agreement (</font><font style="font-family: Cambria; font-size: 12pt;">that is</font><font style="font-family: Cambria; font-size: 12pt;">, without prejudice of any restrictions existing in any other agreements with comply with the provisions of Sections 4.5, 16.5 and 16.7)</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Free Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION THREE</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">EXERCISE OF HOLDINGS VOTING RIGHTS &#8211; ORDINARY </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">PREVIOUS MEETING</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">S AND PLENARY </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">PREVIOUS MEETING</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">S</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and the Holdings Partners </font><font style="font-family: Cambria; font-size: 12pt;">who</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">hold</font><font style="font-family: Cambria; font-size: 12pt;"> any Free Shares</font><font style="font-family: Cambria; font-size: 12pt;"> hereby undertake to vote in </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> general</font><font style="font-family: Cambria; font-size: 12pt;"> shareholders</font><font style="font-family: Cambria; font-size: 12pt;"> meetings (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">s</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) pursuant to the terms of the voting instructions approved by the Holdings</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;</font><font style="font-family: Cambria; font-size: 12pt;"> representatives in the preliminary meeting </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">held as set forth in this Agreement (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), so that the Holdings&#8217;</font><font style="font-family: Cambria; font-size: 12pt;"> and the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners&#8217; votes in the </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be bound by the resolution passed in the </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">With respect to the Free Shares object of </font><font style="font-family: Cambria; font-size: 12pt;">depositary receipt of shares</font><font style="font-family: Cambria; font-size: 12pt;">, the Holdings Partners&#8217; obligation to vote pursuant to the terms of the voting instructions approved in a </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> shall be deemed </font><font style="font-family: Cambria; font-size: 12pt;">complied</font><font style="font-family: Cambria; font-size: 12pt;"> as long as a voting instruction in this respect is sent by the titleholder to the issuer of the certificate, </font><font style="font-family: Cambria; font-size: 12pt;">if possible and applicable to those persons, </font><font style="font-family: Cambria; font-size: 12pt;">even if the issuer, due to any reason not attributable to the signatory of this Agreement, does not vote</font><font style="font-family: Cambria; font-size: 12pt;"> with</font><font style="font-family: Cambria; font-size: 12pt;"> the respective shares </font><font style="font-family: Cambria; font-size: 12pt;">in the manner</font><font style="font-family: Cambria; font-size: 12pt;"> decided in the </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> set forth in this Agreement is not held prior to a </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, for any reason, or in the event a</font><font style="font-family: Cambria; font-size: 12pt;"> favorable</font><font style="font-family: Cambria; font-size: 12pt;"> resolution is not approved in a </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> with respect to any item in the agenda of a </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, then the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and the Holdings Partners </font><font style="font-family: Cambria; font-size: 12pt;">who</font><font style="font-family: Cambria; font-size: 12pt;"> hold</font><font style="font-family: Cambria; font-size: 12pt;"> any Free Shares shall attend such </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> and exercise their respective voting rights</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">so that those matters that were not </font><font style="font-family: Cambria; font-size: 12pt;">subject to</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">a favorable </font><font style="font-family: Cambria; font-size: 12pt;">resolution</font><font style="font-family: Cambria; font-size: 12pt;"> and approval in a </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">are</font><font style="font-family: Cambria; font-size: 12pt;"> removed from the agenda of the aforementioned </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">; or</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> in the event those matters remain in the agenda,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">to</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">vote so to </font><font style="font-family: Cambria; font-size: 12pt;">reject those matters.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Types of </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">s</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">There shall be two (2) types of </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> and, </font><font style="font-family: Cambria; font-size: 12pt;">according to the matter to be decided in the </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Ordinary </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">s</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be held </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> quarterly, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">prior to any </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">whenever requested by </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">RPO Members</font><font style="font-family: Cambria; font-size: 12pt;">, pursuant to the terms of Section </font><font style="font-family: Cambria; font-size: 12pt; color: #000000;">3.9.1</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s preceding a </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, it shall be decided the voting instructions for the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt;">for </font><font style="font-family: Cambria; font-size: 12pt;">those holding Free Shares </font><font style="font-family: Cambria; font-size: 12pt;">in regard</font><font style="font-family: Cambria; font-size: 12pt;"> to all matters included in the agenda of the </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, except for matters to be decided by a Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, as provided for in Section 3.1</font><font style="font-family: Cambria; font-size: 12pt;">3</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The members elected by the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners </font><font style="font-family: Cambria; font-size: 12pt;">will participate and have the</font><font style="font-family: Cambria; font-size: 12pt;"> right to vote</font><font style="font-family: Cambria; font-size: 12pt;"> in t</font><font style="font-family: Cambria; font-size: 12pt;">he Ordinary Previous Meetings</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">RPO Members</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.6.1.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The</font><font style="font-family: Cambria; font-size: 12pt;"> RPO Members will be elected for a term of 2 (two) years, which will coincide with the term of the </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">board of directo</font><font style="font-family: Cambria; font-size: 12pt;">rs.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.6.2.</font><font style="font-family: Cambria; font-size: 12pt;"> The RPO Members will be elected and removed by the Holdings Partners at a </font><font style="font-family: Cambria; font-size: 12pt;">Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.6.3.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The RPO Members will elect, among them, the one who will chair the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Pr</font><font style="font-family: Cambria; font-size: 12pt;">evious </font><font style="font-family: Cambria; font-size: 12pt;">Meeting during each term.</font></p>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.6.4.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> Partners who have elected a specific RPO Member </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">will be allowed to replace </font><font style="font-family: Cambria; font-size: 12pt;">it</font><font style="font-family: Cambria; font-size: 12pt;"> at any time, and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">will be allowed to</font><font style="font-family: Cambria; font-size: 12pt;"> indicate </font><font style="font-family: Cambria; font-size: 12pt;">its</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">alternate</font><font style="font-family: Cambria; font-size: 12pt;"> in the event of definitive impediment or vacancy in the position of RPO Member.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.7.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners who held, directly or indirectly, </font><font style="font-family: Cambria; font-size: 12pt;">and individually or jointly</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">voting rights of shares or quotas representing the capital stock of the Holdings corresponding to at 5% (five percent) of the Bound Shares shall have the right to elect (and replace at any time) one, and only one, RPO Member</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="width: 35.4pt; display: inline-block;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.7.1.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; -aw-import: spaces;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">If </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;"> Holding Partner perform</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">a transfer of Holding </font><font style="font-family: Cambria; font-size: 12pt;">share </font><font style="font-family: Cambria; font-size: 12pt;">or</font><font style="font-family: Cambria; font-size: 12pt;"> quota</font><font style="font-family: Cambria; font-size: 12pt;"> to a </font><font style="font-family: Cambria; font-size: 12pt;">permitted</font><font style="font-family: Cambria; font-size: 12pt;"> assignee, under</font><font style="font-family: Cambria; font-size: 12pt;"> the corporate documents of the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings, </font><font style="font-family: Cambria; font-size: 12pt;">according to Section</font><font style="font-family: Cambria; font-size: 12pt;"> 4.5 below, the Holding shares or quotas received by the</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">permitted assignee will continue to be </font><font style="font-family: Cambria; font-size: 12pt;">considered together</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">with those </font><font style="font-family: Cambria; font-size: 12pt;">held by the </font><font style="font-family: Cambria; font-size: 12pt;">assignor</font><font style="font-family: Cambria; font-size: 12pt;"> for the purpose of verifying the minimum </font><font style="font-family: Cambria; font-size: 12pt;">interest</font><font style="font-family: Cambria; font-size: 12pt;"> required</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">in </font><font style="font-family: Cambria; font-size: 12pt;">Section</font><font style="font-family: Cambria; font-size: 12pt;"> 3.7 above.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.7.2. </font><font style="font-family: Cambria; font-size: 12pt;">In the event of the death or </font><font style="font-family: Cambria; font-size: 12pt;">removal of a</font><font style="font-family: Cambria; font-size: 12pt;"> Holding Partner, </font><font style="font-family: Cambria; font-size: 12pt;">its </font><font style="font-family: Cambria; font-size: 12pt;">heirs, sharecroppers or successors, as the case may be, may add</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">their </font><font style="font-family: Cambria; font-size: 12pt;">interest </font><font style="font-family: Cambria; font-size: 12pt;">to collectively elect an RPO Member</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">(including for all purposes of </font><font style="font-family: Cambria; font-size: 12pt;">Section </font><font style="font-family: Cambria; font-size: 12pt;">3.6.4), provided that,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">cumulatively, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> the RPO Member to be elected is appointed by the</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">heirs, sharecroppers or successors who hold at least most of the</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Holding shares or quotas previously held by the deceased</font><font style="font-family: Cambria; font-size: 12pt;"> or removed Holding Partner</font><font style="font-family: Cambria; font-size: 12pt;">; and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the heirs, sharecroppers or successors hold, jointly, the minimum percentage of voting rights required in </font><font style="font-family: Cambria; font-size: 12pt;">Section</font><font style="font-family: Cambria; font-size: 12pt;"> 3.7</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">above.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.8.</font><font style="width: 15.62pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The following m</font><font style="font-family: Cambria; font-size: 12pt;">ay be elected as RPO</font><font style="font-family: Cambria; font-size: 12pt;"> Member:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> Holdings Partners, if</font><font style="font-family: Cambria; font-size: 12pt;"> individuals</font><font style="font-family: Cambria; font-size: 12pt;">; or (ii) </font><font style="font-family: Cambria; font-size: 12pt;">an individual</font><font style="font-family: Cambria; font-size: 12pt;"> who holds a direct or indirect </font><font style="font-family: Cambria; font-size: 12pt;">stake</font><font style="font-family: Cambria; font-size: 12pt;"> in the capital of a Holding Partner on the date of execution of this</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Agreement or who may hold such </font><font style="font-family: Cambria; font-size: 12pt;">stake</font><font style="font-family: Cambria; font-size: 12pt;"> through a transfer</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">permitted under this Agreement; or </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: Cambria; font-size: 12pt;"> in the case of a Holding Partner that is</font><font style="font-family: Cambria; font-size: 12pt;"> an </font><font style="font-family: Cambria; font-size: 12pt;">investment fund, </font><font style="font-family: Cambria; font-size: 12pt;">an individual</font><font style="font-family: Cambria; font-size: 12pt;"> who (a) holds a stake, directly or</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">indirectly, in the capital</font><font style="font-family: Cambria; font-size: 12pt;"> stock</font><font style="font-family: Cambria; font-size: 12pt;"> of the respective manager, or (b) is a member of the respective</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">investment committee.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.9.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="width: 12.98pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be called by the chairperson selected as set forth in Section 3.</font><font style="font-family: Cambria; font-size: 12pt;">6.3</font><font style="font-family: Cambria; font-size: 12pt;"> above, by</font><font style="font-family: Cambria; font-size: 12pt;"> means of a call</font><font style="font-family: Cambria; font-size: 12pt;"> notice to be sent to </font><font style="font-family: Cambria; font-size: 12pt;">all </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">other members of the Ordinary Previous Meetings</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">at least five (5) days in advance of the date of the respective meeting.</font><font style="font-family: Cambria; font-size: 12pt;"> Such </font><font style="font-family: Cambria; font-size: 12pt;">call </font><font style="font-family: Cambria; font-size: 12pt;">notice </font><font style="font-family: Cambria; font-size: 12pt;">shall contain a description of the matters included in the agend</font><font style="font-family: Cambria; font-size: 12pt;">a, as well as </font><font style="font-family: Cambria; font-size: 12pt;">copies of all relevant documents necessary for a </font><font style="font-family: Cambria; font-size: 12pt;">thorough</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">knowledge</font><font style="font-family: Cambria; font-size: 12pt;"> and understanding of the matters </font><font style="font-family: Cambria; font-size: 12pt;">included in the agenda </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">resolved</font><font style="font-family: Cambria; font-size: 12pt;">.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.9.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Three </font><font style="font-family: Cambria; font-size: 12pt;">(3) </font><font style="font-family: Cambria; font-size: 12pt;">RPO Mem</font><font style="font-family: Cambria; font-size: 12pt;">bers</font><font style="font-family: Cambria; font-size: 12pt;"> jointly request in writing the chairperson to call an Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, indicating the respective agenda.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event the request is not </font><font style="font-family: Cambria; font-size: 12pt;">complied </font><font style="font-family: Cambria; font-size: 12pt;">within up to five (5) days,</font><font style="font-family: Cambria; font-size: 12pt;"> (or the call of such meeting on a second call that is not held within 24 (twenty-four) hours according to Section 3.10), the</font><font style="font-family: Cambria; font-size: 12pt;"> requesting </font><font style="font-family: Cambria; font-size: 12pt;">members</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">will have the right to</font><font style="font-family: Cambria; font-size: 12pt;"> jointly call an Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">provided that they do so </font><font style="font-family: Cambria; font-size: 12pt;">with an identical agenda as the one </font><font style="font-family: Cambria; font-size: 12pt;">requested</font><font style="font-family: Cambria; font-size: 12pt;"> and subject to the time periods and proce</font><font style="font-family: Cambria; font-size: 12pt;">dures</font><font style="font-family: Cambria; font-size: 12pt;"> set forth in this Agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.10.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="width: 5.87pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be held at least fifteen (15) days before the date scheduled for the </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> to which they the majority of </font><font style="font-family: Cambria; font-size: 12pt;">the RPO Members</font><font style="font-family: Cambria; font-size: 12pt;">.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event the quorum for the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> to </font><font style="font-family: Cambria; font-size: 12pt;">be </font><font style="font-family: Cambria; font-size: 12pt;">convene</font><font style="font-family: Cambria; font-size: 12pt;">d</font><font style="font-family: Cambria; font-size: 12pt;"> in first call is not reached, a new Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> shall be called within up to twenty-four (24) hours, provided that, in that case, the meeting to be held in second call </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">shall be</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">held within up to three (3) days after it is called, and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> shall be convened with the presence of any number of </font><font style="font-family: Cambria; font-size: 12pt;">members</font><font style="font-family: Cambria; font-size: 12pt;"> at the meeting</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.11.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> that precedes </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">in which its</font><font style="font-family: Cambria; font-size: 12pt;"> agenda includes the election of members of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">board of directors shall comply with the following rules:</font></p>
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<p style="margin-top: 0pt; margin-left: 35.45pt; margin-bottom: 0pt; text-indent: -0.05pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(I) </font><font style="font-family: Cambria; font-size: 12pt;">The Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a) </font><font style="font-family: Cambria; font-size: 12pt;">shall </font><font style="font-family: Cambria; font-size: 12pt;">resolve</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">on all matters related to such election, in particular </font><font style="font-family: Cambria; font-size: 12pt;">on (as the case may be and in compliance with the by-laws of the Company): </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; -aw-import: spaces;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">(x)</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">submission </font><font style="font-family: Cambria; font-size: 12pt;">of a suggested list of candidates to be considered by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> board of directors </font><font style="font-family: Cambria; font-size: 12pt;">when preparing</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">any</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">slate;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">(y) </font><font style="font-family: Cambria; font-size: 12pt;">the approval of </font><font style="font-family: Cambria; font-size: 12pt;">any</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">slate</font><font style="font-family: Cambria; font-size: 12pt;"> submitted by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar's</font><font style="font-family: Cambria; font-size: 12pt;"> board of directors, or, in the event of rejection of the </font><font style="font-family: Cambria; font-size: 12pt;">slate</font><font style="font-family: Cambria; font-size: 12pt;"> or the non-submission of a </font><font style="font-family: Cambria; font-size: 12pt;">slate</font><font style="font-family: Cambria; font-size: 12pt;"> by the Company</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;</font><font style="font-family: Cambria; font-size: 12pt;">s Board of Directors, the presentation of a specific </font><font style="font-family: Cambria; font-size: 12pt;">slate to </font><font style="font-family: Cambria; font-size: 12pt;">compete for the Company</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;</font><font style="font-family: Cambria; font-size: 12pt;">s board of</font><font style="font-family: Cambria; font-size: 12pt;"> directors</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">the submission of a request for cumulative voting and, in that case, </font><font style="font-family: Cambria; font-size: 12pt;">on </font><font style="font-family: Cambria; font-size: 12pt;">how the votes shall be allocated among the several candidates;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">indication of individual candidates for the Company</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;</font><font style="font-family: Cambria; font-size: 12pt;">s board of directors in situations where, for any reason and at any time, the election will come or be made in a majority form but individually by open position, and not in the form of a slate or multiple vote; and</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">the voting instruction</font><font style="font-family: Cambria; font-size: 12pt;"> as to the numbe</font><font style="font-family: Cambria; font-size: 12pt;">r of members to be elected to</font><font style="font-family: Cambria; font-size: 12pt;"> the Company&#8217;s board of directors;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b) </font><font style="font-family: Cambria; font-size: 12pt;">shall be called </font><font style="font-family: Cambria; font-size: 12pt;">sufficiently in advance</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">so </font><font style="font-family: Cambria; font-size: 12pt;">to allow it to be held on a date that, considering the </font><font style="font-family: Cambria; font-size: 12pt;">corporate events </font><font style="font-family: Cambria; font-size: 12pt;">calendar disclosed by the Company and the </font><font style="font-family: Cambria; font-size: 12pt;">facts existing</font><font style="font-family: Cambria; font-size: 12pt;"> at </font><font style="font-family: Cambria; font-size: 12pt;">the time, </font><font style="font-family: Cambria; font-size: 12pt;">makes it possible for</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Holdings to </font><font style="font-family: Cambria; font-size: 12pt;">submit</font><font style="font-family: Cambria; font-size: 12pt;">, if </font><font style="font-family: Cambria; font-size: 12pt;">applicable</font><font style="font-family: Cambria; font-size: 12pt;">, a sugge</font><font style="font-family: Cambria; font-size: 12pt;">sted list </font><font style="font-family: Cambria; font-size: 12pt;">of candidates to be considered by the Board of Directors </font><font style="font-family: Cambria; font-size: 12pt;">when preparing</font><font style="font-family: Cambria; font-size: 12pt;"> its slate; and</font></p>
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<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">II</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">) </font><font style="font-family: Cambria; font-size: 12pt;">the candidates to be appointed </font><font style="font-family: Cambria; font-size: 12pt;">to</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> board of directors shall meet the</font><font style="font-family: Cambria; font-size: 12pt;"> requirements of art</font><font style="font-family: Cambria; font-size: 12pt;">. 147 </font><font style="font-family: Cambria; font-size: 12pt;">of the Brazilian Corporate Law</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">and CVM applicable rules) as well as the</font><font style="font-family: Cambria; font-size: 12pt;"> following minimum</font><font style="font-family: Cambria; font-size: 12pt;"> and cumulative eligibility requirements:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">be</font><font style="font-family: Cambria; font-size: 12pt;"> at least thirty (30) years </font><font style="font-family: Cambria; font-size: 12pt;">of age</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(v) </font><font style="font-family: Cambria; font-size: 12pt;">hold</font><font style="font-family: Cambria; font-size: 12pt;"> a suitable higher education degree;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(vi) </font><font style="font-family: Cambria; font-size: 12pt;">not use any substance that is unlawful or prohibited in Brazil or in the United </font><font style="font-family: Cambria; font-size: 12pt;">State</font><font style="font-family: Cambria; font-size: 12pt;">s of America</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(vii) </font><font style="font-family: Cambria; font-size: 12pt;">not</font><font style="font-family: Cambria; font-size: 12pt;"> been convicted of any crime </font><font style="font-family: Cambria; font-size: 12pt;">for which a final and non-appealable judgment has been rendered</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.12.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The resolutions of the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting will be taken by a majority vote of the members present at the meeting, with each RPO Member having one vote.</font></p>
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<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.12.1.</font><font style="width: 26.87pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The RPO Members</font><font style="font-family: Cambria; font-size: 12pt;"> shall exercise their voting rights </font><font style="font-family: Cambria; font-size: 12pt;">so</font><font style="font-family: Cambria; font-size: 12pt;"> to ensure that the directors appointed by the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and the</font><font style="font-family: Cambria; font-size: 12pt;"> Holdings Partners represent the largest </font><font style="font-family: Cambria; font-size: 12pt;">possible </font><font style="font-family: Cambria; font-size: 12pt;">number of members to be elected </font><font style="font-family: Cambria; font-size: 12pt;">to</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> board of directors.</font></p>
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<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.12.2.</font><font style="width: 26.87pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">RPO Members elected by Holdings Holders, individually or jointly</font><font style="font-family: Cambria; font-size: 12pt;"> holding equity greater </font><font style="font-family: Cambria; font-size: 12pt;">than 15% (fifteen percent) of the </font><font style="font-family: Cambria; font-size: 12pt;">Bound</font><font style="font-family: Cambria; font-size: 12pt;"> Shares may, until the time of the close of the </font><font style="font-family: Cambria; font-size: 12pt;">Ordinary Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> request that one or more matters included in the agenda, even after its </font><font style="font-family: Cambria; font-size: 12pt;">resolution</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">is</font><font style="font-family: Cambria; font-size: 12pt;"> submitted to </font><font style="font-family: Cambria; font-size: 12pt;">resolution</font><font style="font-family: Cambria; font-size: 12pt;"> in a Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> in which case any </font><font style="font-family: Cambria; font-size: 12pt;">resolutions already taken on the matters will be null and</font><font style="font-family: Cambria; font-size: 12pt;"> pending a decision at a Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting.</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.12.3.</font><font style="width: 26.87pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the case referred to in Section 3.12.2, the chairman shall call the Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting to within 24 (twenty four) hours, to resolve on the matters subject-matter of the request, and the Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting shall be held on the first business day following the date of the call. If the request is not met (or the second call meeting under Section 3.20 is not called) within 24 (twenty-four) hours, the requesting members may jointly call such Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting, provided that with agenda identical to the one requested and subject to the deadlines and procedures established set forth in this Agreement.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Plenary </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">s</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.13.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be held </font><font style="font-family: Cambria; font-size: 12pt;">prior to any </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">in which its</font><font style="font-family: Cambria; font-size: 12pt;"> agenda includes any of the following matters:</font><font style="font-family: Cambria; font-size: 8pt; vertical-align: super;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;">mendment to </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> by-laws;</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">c</font><font style="font-family: Cambria; font-size: 12pt;">hange to the rights attached to </font><font style="font-family: Cambria; font-size: 12pt;">the shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">;</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">m</font><font style="font-family: Cambria; font-size: 12pt;">erger </font><font style="font-family: Cambria; font-size: 12pt;">(amalgamation),</font><font style="font-family: Cambria; font-size: 12pt;"> merger, merger of shares, or spin-off involving </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> and</font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;">cquisition or disposal of assets by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> and its controlled entities, </font><font style="font-family: Cambria; font-size: 12pt;">as long as</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">they have been </font><font style="font-family: Cambria; font-size: 12pt;">subject to a </font><font style="font-family: Cambria; font-size: 12pt;">resolution of</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
<p style="margin-top: 0pt; margin-left: 42.55pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.14.</font><font style="width: 15.66pt; display: inline-block; -aw-tabstop-align: left; -aw-tabstop-pos: 42.55pt;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meetings shall also be</font><font style="font-family: Cambria; font-size: 12pt;"> held</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">in </font><font style="font-family: Cambria; font-size: 12pt;">order to resolve on</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;">ny matters submitted </font><font style="font-family: Cambria; font-size: 12pt;">to it </font><font style="font-family: Cambria; font-size: 12pt;">according to a </font><font style="font-family: Cambria; font-size: 12pt;">request made</font><font style="font-family: Cambria; font-size: 12pt;"> in an Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, as set forth in Section</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">3.</font><font style="font-family: Cambria; font-size: 12pt;">12.2 </font><font style="font-family: Cambria; font-size: 12pt;">and 3.12.3</font><font style="font-family: Cambria; font-size: 12pt;"> above.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.15.</font><font style="width: 15.66pt; display: inline-block; -aw-tabstop-align: left; -aw-tabstop-pos: 42.55pt;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">All Holding members with voting rights in the Holdings will have the right to vote on the Plenary</font><font style="font-family: Cambria; font-size: 12pt;"> P</font><font style="font-family: Cambria; font-size: 12pt;">revious Meetings.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.16.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the </font><font style="font-family: Cambria; font-size: 12pt;">Plenary Previous </font><font style="font-family: Cambria; font-size: 12pt;">Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s, the number of votes of each Holding Partner shall be equal to the </font><font style="font-family: Cambria; font-size: 12pt;">number</font><font style="font-family: Cambria; font-size: 12pt;"> of Bound Shares corresponding to the Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas the Holding Partner </font><font style="font-family: Cambria; font-size: 12pt;">is entitled to</font><font style="font-family: Cambria; font-size: 12pt;"> voting rights.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.17.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Subje</font><font style="font-family: Cambria; font-size: 12pt;">ct to the provisions of Sections 3.6.2 and 3.7 above and, except as Section 3.17.1 </font><font style="font-family: Cambria; font-size: 12pt;">below, resolutions shall be passed in Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s by the affirmative vote of at least sixty-six percent (66%) of </font><font style="font-family: Cambria; font-size: 12pt;">the total number of</font><font style="font-family: Cambria; font-size: 12pt;"> votes of all Holdings Partners attending and not attending the </font><font style="font-family: Cambria; font-size: 12pt;">Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, calculated as set forth in Section </font><font style="font-family: Cambria; font-size: 12pt;">3.1</font><font style="font-family: Cambria; font-size: 12pt;">6</font><font style="font-family: Cambria; font-size: 12pt;"> of this Agreement (</font><font style="font-family: Cambria; font-size: 12pt;">100% (one hundred percent) of such sum, the </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Total Votes</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.17.1.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The resolutions on matters that are submitted to the </font><font style="font-family: Cambria; font-size: 12pt;">Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meetings upon request made at the </font><font style="font-family: Cambria; font-size: 12pt;">Ordinary Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> pursuant to Section 3.12.2 and </font><font style="font-family: Cambria; font-size: 12pt;">3.14</font><font style="font-family: Cambria; font-size: 12pt;"> above, will be taken by the favorable vote of the majority of the Total Votes, subject, however, to the provision in Section 3.20.1 below.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.18</font><font style="font-family: Cambria; font-size: 12pt;">. </font><font style="font-family: Cambria; font-size: 12pt;">Whoever is responsible, under this Agreement, to chair the </font><font style="font-family: Cambria; font-size: 12pt;">Ordinary Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s, will also chair the Plenary Previous Meetings.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.19.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Plenary Previous Meetings shall be called by the chairperson by means of a call notice to be sent to all Holdings Partners at least five (5) days in advance of the date of the respective meeting. Such call notice shall contain a description of the matters included in the agenda, as well as copies of all relevant documents necessary for a thorough knowledge and understanding of the matters included in the agenda to be resolved in the Plenary Previous Meeting.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.20.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be held at least seven (7) days </font><font style="font-family: Cambria; font-size: 12pt;">before</font><font style="font-family: Cambria; font-size: 12pt;"> the date scheduled for the </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s to which they </font><font style="font-family: Cambria; font-size: 12pt;">relate, and</font><font style="font-family: Cambria; font-size: 12pt;"> shall be deemed validly convened with the presence of </font><font style="font-family: Cambria; font-size: 12pt;">holders of</font><font style="font-family: Cambria; font-size: 12pt;"> sixty-six percent (66%) of the Total Votes.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event such quorum is not reached, a new Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> shall be called within up to twenty-four (24) hours </font><font style="font-family: Cambria; font-size: 12pt;">so that </font><font style="font-family: Cambria; font-size: 12pt;">the meeting in second call </font><font style="font-family: Cambria; font-size: 12pt;">is</font><font style="font-family: Cambria; font-size: 12pt;"> held at least three (3) days in advance of the date of the corresponding </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;">.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In </font><font style="font-family: Cambria; font-size: 12pt;">case</font><font style="font-family: Cambria; font-size: 12pt;"> the quorum set forth in this Section is not reached, the provisions of Section 3.2 above shall apply</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.20.1.</font><font style="width: 33.42pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event referred to in </font><font style="font-family: Cambria; font-size: 12pt;">Section</font><font style="font-family: Cambria; font-size: 12pt;"> 3.14, the Plenary Previous Meetings will be considered validly </font><font style="font-family: Cambria; font-size: 12pt;">established </font><font style="font-family: Cambria; font-size: 12pt;">on second call with any quorum of attendance, and the respective resolutions </font><font style="font-family: Cambria; font-size: 12pt;">shall</font><font style="font-family: Cambria; font-size: 12pt;"> be taken, in this case, by the majority of the votes of those present calculated </font><font style="font-family: Cambria; font-size: 12pt;">pursuant to</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Section </font><font style="font-family: Cambria; font-size: 12pt; -aw-import: spaces;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">3.16</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Common provisions concerning Ordinary </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">s and Plenary </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic; text-decoration: underline;">s</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.21.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Except if otherwise agreed by the Holdings Partners</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">as applicable, the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s and the Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s shall be held at </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s headquarters.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.22.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Each Holding Partner shall be allowed to appoint an attorney in fact to represent </font><font style="font-family: Cambria; font-size: 12pt;">him/her/</font><font style="font-family: Cambria; font-size: 12pt;">it in the Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">s.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.23.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event any </font><font style="font-family: Cambria; font-size: 12pt;">General Shareholders&#8217; Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> includes in </font><font style="font-family: Cambria; font-size: 12pt;">its</font><font style="font-family: Cambria; font-size: 12pt;"> agenda matters</font><font style="font-family: Cambria; font-size: 12pt;"> that are</font><font style="font-family: Cambria; font-size: 12pt;"> subject to both the Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> and the Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, both meetings shall be held successively in that order, subject to the provisions of this Section Three.</font></p>
<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.24.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holdings Partners hereby undertake, on their own behalf and on behalf of their </font><font style="font-family: Cambria; font-size: 12pt;">attorney</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">-in-fact</font><font style="font-family: Cambria; font-size: 12pt;">, not to disclose any confidential information related to </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> businesses and activities that may be </font><font style="font-family: Cambria; font-size: 12pt;">discussed</font><font style="font-family: Cambria; font-size: 12pt;"> in any Ordinary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> or Plenary </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">and also undertake </font><font style="font-family: Cambria; font-size: 12pt;">to strictly </font><font style="font-family: Cambria; font-size: 12pt;">comply with</font><font style="font-family: Cambria; font-size: 12pt;"> any </font><font style="font-family: Cambria; font-size: 12pt;">restrictions set forth in the law or regulations applicable to securities trading as a result of their knowledge of such information.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">3.25.</font><font style="width: 8.51pt; display: inline-block;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">A call notice shall not be required for any</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Previous Meeting attended by all </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners with voting rights in that meeting, or their </font><font style="font-family: Cambria; font-size: 12pt;">attorneys-in-fact</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">or all RPO Members, as the case may be, </font><font style="font-family: Cambria; font-size: 12pt;">and, in this case, the meeting</font><font style="font-family: Cambria; font-size: 12pt;"> shall </font><font style="font-family: Cambria; font-size: 12pt;">be deemed validly convened.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION FOUR</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">RESTRICTIONS </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ON</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">DISPOSAL</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">S</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> AND ENCUMBRANCE</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">S</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Parties hereby undertake not to Dispose of or Encumber any Bound Shares in breach of the provisions of this Agreement, </font><font style="font-family: Cambria; font-size: 12pt;">provided that any</font><font style="font-family: Cambria; font-size: 12pt;"> disposal or encumbrance of Bound Shares in breach of the provisions of this Agreement shall be deemed null and </font><font style="font-family: Cambria; font-size: 12pt;">void</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-indent: -0.55pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">For the purposes of this Agreement,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Encumber</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> shall mean to create any</font><font style="font-family: Cambria; font-size: 12pt;"> encumbrance</font><font style="font-family: Cambria; font-size: 12pt;">, pledge, security interest, claim, lease, charge, option, preemptive right, restriction on transfers pursuant to the terms of any shareholders' agreement or similar agreement, lien, or any other restriction or limitation of any nature affecting the free and unr</font><font style="font-family: Cambria; font-size: 12pt;">estricted title to the </font><font style="font-family: Cambria; font-size: 12pt;">company&#8217;s shares or quotas or investment fund quotas,</font><font style="font-family: Cambria; font-size: 12pt;"> or that otherwise creates ob</font><font style="font-family: Cambria; font-size: 12pt;">stacles of any nature to their D</font><font style="font-family: Cambria; font-size: 12pt;">isposal, at any time</font><font style="font-family: Cambria; font-size: 12pt;">, such acts shall be deemed a </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt;">Di</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">posal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Dispose of</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> shall mean any assignment</font><font style="font-family: Cambria; font-size: 12pt;"> of</font><font style="font-family: Cambria; font-size: 12pt;">, transfer</font><font style="font-family: Cambria; font-size: 12pt;"> of</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">or </font><font style="font-family: Cambria; font-size: 12pt;">sale</font><font style="font-family: Cambria; font-size: 12pt;"> of,</font><font style="font-family: Cambria; font-size: 12pt;"> or co</font><font style="font-family: Cambria; font-size: 12pt;">ntribution to the capital stock</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">shares or quotas of companies, provided that, for purposes of this Agreement, they shall be also deemed </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt;">Di</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">posal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> whether directly or indirectly and whether free of charge or for valuable consideratio</font><font style="font-family: Cambria; font-size: 12pt;">n</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">(</font><font style="font-family: Cambria; font-size: 12pt;">i</font><font style="font-family: Cambria; font-size: 12pt;">) </font><font style="font-family: Cambria; font-size: 12pt;">corporate transactions involving the Holdings that result in an indirect transfer of Bound Shares to a third party</font><font style="font-family: Cambria; font-size: 12pt;">, (ii</font><font style="font-family: Cambria; font-size: 12pt;">) in</font><font style="font-family: Cambria; font-size: 12pt;"> the case of investment funds whose management is not discretionary, the transfer of ownership of the majority of its shares, and (iii) in the case of investment funds with discretionary management, the replacement of the manager or the sale of its shareholding control.</font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.1.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The restrictions </font><font style="font-family: Cambria; font-size: 12pt;">on</font><font style="font-family: Cambria; font-size: 12pt;"> Disposal</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> and Encumbrance</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> of Bound Shares shall also apply to </font><font style="font-family: Cambria; font-size: 12pt;">any</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">other securities convertible into or exchangeable for Bound Shares, as well as to subscription rights, </font><font style="font-family: Cambria; font-size: 12pt;">whether or not</font><font style="font-family: Cambria; font-size: 12pt;"> represented by securities.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holdings hereby represent that they are the lawful owners of all Bound Shares, which are free and clear of any encumbrance, lien, sale commitment, call option, bond, trust, fiduciary assignment, usufruct, or any other </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">in rem</font><font style="font-family: Cambria; font-size: 12pt;"> right of fruition or other </font><font style="font-family: Cambria; font-size: 12pt;">security interest</font><font style="font-family: Cambria; font-size: 12pt;">, except for the ones that are of knowledge of the Parties on the date hereof</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">It shall be prohibited for any</font><font style="font-family: Cambria; font-size: 12pt;"> Holding </font><font style="font-family: Cambria; font-size: 12pt;">to</font><font style="font-family: Cambria; font-size: 12pt;"> Encumber any Bound Shares without the prior express consent of the other Holding.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In order to provide stability to the block of signatory shareholders and </font><font style="font-family: Cambria; font-size: 12pt;">to </font><font style="font-family: Cambria; font-size: 12pt;">protect the rights agreed in this Agreement, the Ultra Partners, with respect to the shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by Ultra</font><font style="font-family: Cambria; font-size: 12pt;">, and the Parth Partners, with respect to the quotas</font><font style="font-family: Cambria; font-size: 12pt;"> comprising </font><font style="font-family: Cambria; font-size: 12pt;">Parth&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> capital stock</font><font style="font-family: Cambria; font-size: 12pt;">, shall only</font><font style="font-family: Cambria; font-size: 12pt;"> have the right to</font><font style="font-family: Cambria; font-size: 12pt;"> Dispose</font><font style="font-family: Cambria; font-size: 12pt;"> of</font><font style="font-family: Cambria; font-size: 12pt;"> or Encumber their respective equity</font><font style="font-family: Cambria; font-size: 12pt;"> stakes in the Holdings provided that, first, they comply with </font><font style="font-family: Cambria; font-size: 12pt;">the rules and conditions set forth in the corporate documents and shareholders&#8217; or </font><font style="font-family: Cambria; font-size: 12pt;">quotaholders</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; agreements of the Holdings, and, second, if it is still the case, </font><font style="font-family: Cambria; font-size: 12pt;">with </font><font style="font-family: Cambria; font-size: 12pt;">the provisions of this Agreement</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">4.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Pursuant to the provisions of Section 1.3 of this Agreement, the Holdings Partners hereby undertake to reflect the restrictions on Disposal</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> or Encumbrance</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> of the Bound Shares referred to in this Section Four in the relevant corporate documents of the Holdings</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> provided, however, that the corporate documents and shareholders&#8217; or </font><font style="font-family: Cambria; font-size: 12pt;">quotaholders</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; agreements of the Holdings </font><font style="font-family: Cambria; font-size: 12pt;">(or</font><font style="font-family: Cambria; font-size: 12pt; -aw-import: spaces;">&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">the</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners), if a legal entity or investment funds, </font><font style="font-family: Cambria; font-size: 12pt;">may</font><font style="font-family: Cambria; font-size: 12pt;"> provide for exceptions to the rules on restrictions on Disposal</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> and Encumbrance</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> of any equity stake in the Holdings </font><font style="font-family: Cambria; font-size: 12pt;">exclusively </font><font style="font-family: Cambria; font-size: 12pt;">in the following </font><font style="font-family: Cambria; font-size: 12pt;">cases</font><font style="font-family: Cambria; font-size: 12pt;">:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a) </font><font style="font-family: Cambria; font-size: 12pt;">whenever such Disposal or Encumbrance is </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">between ascendants, descendants, or spouses</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">to holding companies </font><font style="font-family: Cambria; font-size: 12pt;">which</font><font style="font-family: Cambria; font-size: 12pt;"> capital stock is </font><font style="font-family: Cambria; font-size: 12pt;">wholly owned</font><font style="font-family: Cambria; font-size: 12pt;"> by </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;"> Holding Partner</font><font style="font-family: Cambria; font-size: 12pt;"> or by the partners with a stake in i</font><font style="font-family: Cambria; font-size: 12pt;"> by</font><font style="font-family: Cambria; font-size: 12pt;"> its</font><font style="font-family: Cambria; font-size: 12pt;"> respective ascendants, descendants, or spouse</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">between a Holding Partner and the respective partners holding a stake in</font><font style="font-family: Cambria; font-size: 12pt;"> it</font><font style="font-family: Cambria; font-size: 12pt;">, including in the case of </font><font style="font-family: Cambria; font-size: 12pt;">dissolution</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">of such Holding Partner</font><font style="font-family: Cambria; font-size: 12pt;">, and, as the case may be, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iv) </font><font style="font-family: Cambria; font-size: 12pt;">between investment funds who have the same manager; </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b) </font><font style="font-family: Cambria; font-size: 12pt;">provided that such persons, without any restriction or </font><font style="font-family: Cambria; font-size: 12pt;">condition</font><font style="font-family: Cambria; font-size: 12pt;">, adhere to this Agreement in </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">capacity</font><font style="font-family: Cambria; font-size: 12pt;"> as Holding Partner.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION FIVE</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">RIGHT OF FIRST REFUSAL ON BOUND SHARES</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">5.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">During the effective term of this Agreement, in the event either Holding intends to directly or indirectly Dispose of any Bound Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offering Shareholder</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) to </font><font style="font-family: Cambria; font-size: 12pt;">a person who is not</font><font style="font-family: Cambria; font-size: 12pt;"> a signatory of this Agreement, it shall first offer </font><font style="font-family: Cambria; font-size: 12pt;">such Bound Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offered Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) to the other Holding (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offered Shareholder</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) upon delivery of a specific notice, a full copy of which shall be </font><font style="font-family: Cambria; font-size: 12pt;">immediately</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">forwarded</font><font style="font-family: Cambria; font-size: 12pt;"> by the Offered Shareholder to each Holding Partner holding a stake therein (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Offer</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Offered Shareholder shall have the right of first refusal to acquire the Offered Shares under the same terms and conditions as offered to the Offering Shareholder, within thirty (30) days from receipt of the Notice of Offer (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">5.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Notice of Offer shall:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">specify the name and full</font><font style="font-family: Cambria; font-size: 12pt;"> qualification</font><font style="font-family: Cambria; font-size: 12pt;"> of whoever is interested in acquiring the Offered Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offeror</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), identifying, if it is a legal entity, its controlling or main shareholders, up to the level of the individuals;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">inform the number of Offered Shares and the total price and the price </font><font style="font-family: Cambria; font-size: 12pt;">per</font><font style="font-family: Cambria; font-size: 12pt;"> share, in domestic currency;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">detail the payment conditions of the proposed Disposal;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iv) </font><font style="font-family: Cambria; font-size: 12pt;">be followed by a copy of the offer o</font><font style="font-family: Cambria; font-size: 12pt;">r</font><font style="font-family: Cambria; font-size: 12pt;"> equivalent document presented by the Offeror (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offer</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">5.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Offered Shareholder decides to exercise the Right of First Refusal and acquire the Offered Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Accepting Shareholder</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), it shall communicate to the Offering Shareholder within thirty (30) days from the date of receipt of the Notice of Offer (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Exercise Period</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) its irrevocable and irreversible decision to exercise the Right of First Refusal to acquire the Offered Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Exercise of Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">5.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Offered Shareholder exercises the Right of First Refusal, such acquisition shall be consummated in the exact terms of the Notice of Offer, within thirty (30) days from the Notice of Exercise of the Right of First Refusal, upon the execution of a </font><font style="font-family: Cambria; font-size: 12pt;">Share Transfer Order &#8211; STA</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">(</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Ordem</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Transfer&#234;ncia</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> &#8211; OTA</font><font style="font-family: Cambria; font-size: 12pt;">)</font><font style="font-family: Cambria; font-size: 12pt;"> to the entity in charge of the Company&#8217;s book entry shares.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">5.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Offered Shareholder does not exercise the Right of First Refusal, and subject to the Tag Along Right and the Holding Partner&#8217;s Tag Along Right,</font><font style="font-family: Cambria; font-size: 12pt;"> as defined in Section Seven below,</font><font style="font-family: Cambria; font-size: 12pt;"> the Offering Shareholder may, </font><font style="font-family: Cambria; font-size: 12pt;">at its discretion </font><font style="font-family: Cambria; font-size: 12pt;">and within thirty (30) days from the end of the Exercise Period, Dispose of the Offered Shares to the Offeror in the exact terms of the Offer; provided that, in the event the proposed Disposal is not consummated within such period, any Disposal shall require the Offering Shareholder </font><font style="font-family: Cambria; font-size: 12pt;">to execute once again</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the whole proce</font><font style="font-family: Cambria; font-size: 12pt;">dure</font><font style="font-family: Cambria; font-size: 12pt;"> described in this Section Five, subject to the provisions of Section Seven of this Agreement.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION SIX</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">RIGHT OF FIRST REFUSAL IN CASE OF </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ATTACHMENT</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event any Bound Shares </font><font style="font-family: Cambria; font-size: 12pt;">owned </font><font style="font-family: Cambria; font-size: 12pt;">by one of the Holdings suffer an Attachment (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Attached Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), such Holding shall notify the other Holding </font><font style="font-family: Cambria; font-size: 12pt;">so to inform</font><font style="font-family: Cambria; font-size: 12pt;"> the Attachment on Bound Shares held by it within up to five (5) days from the date that such Holding is informed of the Attachment (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Attachment</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">For the purposes of this Agreement, </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Attachment</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> shall mean </font><font style="font-family: Cambria; font-size: 12pt;">an</font><font style="font-family: Cambria; font-size: 12pt;"> attachment (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">penhora</font><font style="font-family: Cambria; font-size: 12pt;">), sequestration (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">arresto</font><font style="font-family: Cambria; font-size: 12pt;">), or any other form of lien by means of which any Bound Shares are subject to a possible disposal in order to enforce a guarantee</font><font style="font-family: Cambria; font-size: 12pt;"> in favor of a creditor or a group of creditors, current or future.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Notice of Attachment shall be accompanied by:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">a copy of the court order or equivalent decision ordering the Attachment;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">documents showing the existence, the terms, and the balances of the obligation or Encumbrance giving rise to the Attachment, including </font><font style="font-family: Cambria; font-size: 12pt;">a </font><font style="font-family: Cambria; font-size: 12pt;">legal brief</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">or </font><font style="font-family: Cambria; font-size: 12pt;">other</font><font style="font-family: Cambria; font-size: 12pt;"> request</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">submitted</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">by whoever has requested the Attachment;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">any other document or information </font><font style="font-family: Cambria; font-size: 12pt;">that may be </font><font style="font-family: Cambria; font-size: 12pt;">necessary to exercise the right of first refusal set forth herein, including the current value of the obligation or cost whose payment is required in order to lift the Attachment.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holding that owns the Attached Shares shall have sixty (60) days to release such Attached Shares.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event the Attached Shares are not released within such term, the other Holding shall have the right of first refusal to acquire the Attached Shares.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the other Holding decides to exercise the right of first refusal referred to in Section Six and acquire the Attached Shares, it shall notify the Holding that owns the Attached Shares within up to thirty (30) days from the end of the period referred to in Section 6.3 above informing it of its irrevocabl</font><font style="font-family: Cambria; font-size: 12pt;">e</font><font style="font-family: Cambria; font-size: 12pt;"> and irreversibl</font><font style="font-family: Cambria; font-size: 12pt;">e</font><font style="font-family: Cambria; font-size: 12pt;"> decision to exercise the right of first refusal to acquire the Attached Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Exercise of Right of First Refusal on Attached Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The exercise price for the acquisition of the Attached Shares shall be equal to the average price of </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> shares</font><font style="font-family: Cambria; font-size: 12pt;"> at B3 S.A. &#8211; Brasil, Bolsa e </font><font style="font-family: Cambria; font-size: 12pt;">Balc&#227;o</font><font style="font-family: Cambria; font-size: 12pt;"> during the ninety (90) days preceding the date of the Notice of Exercise of Right of First Refusal on Attached Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Acquisition Price of Attached Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holding exercising the right of first refusal referred to in this Section Six shall be vested with all powers to, including in the form and within the term provided for in the procedural law, request the replacement of the Attached Shares by a deposit in cash (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Deposit</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.7.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Deposit required to lift the Attachment is in a higher amount than the Acquisition Price of the Attached Shares, the Holding that originally owned the Attached Shares shall </font><font style="font-family: Cambria; font-size: 12pt;">be required to </font><font style="font-family: Cambria; font-size: 12pt;">pay the balance between the value of the Deposit and the Acquisition Price of the Attached Shares to the Holding exercising </font><font style="font-family: Cambria; font-size: 12pt;">its</font><font style="font-family: Cambria; font-size: 12pt;"> right of first refusal, in domestic currency, within five (5) days from the date of the Deposit.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.8.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Deposit required to lift the Attachment is in a lower amount than the Acquisition Price of the Attached Shares, the Holding exercising the right of first refusal shall pay the balance to the Holding that originally owned the Attached Shares, in domestic currency, within five (5) days from the date of the Deposit.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">6.9.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The transfer of </font><font style="font-family: Cambria; font-size: 12pt;">ownership and </font><font style="font-family: Cambria; font-size: 12pt;">title to the Attached Shares shall be </font><font style="font-family: Cambria; font-size: 12pt;">effected</font><font style="font-family: Cambria; font-size: 12pt;"> by means of the execution of a </font><font style="font-family: Cambria; font-size: 12pt;">Share Transfer Order &#8211; STA</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Ordem</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Transfer&#234;ncia</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> &#8211; OTA</font><font style="font-family: Cambria; font-size: 12pt;">) </font><font style="font-family: Cambria; font-size: 12pt;">to the entity in charge of the Company&#8217;s book entry shares.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION SEVEN</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">TAG ALONG RIGHT</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Alternatively to the Right of First Refusal provided for in Section Five above, the Offered Shareholder shall have the right to Dispose of the Bound Shares held by it jointly with the Offering Shareholder (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Tag Along Right</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), in the following events and by the following means:</font></p>
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<p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt; text-indent: -36pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event that </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a)</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Offered Shares, as per the Notice of Offer, correspond to twenty-five percent (25%) or more of the Bound Shares held by the Offering Shareholder, and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b)</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Offering Shareholder has not Disposed of any Bound Shares during the twelve (12) months preceding the date of the Notice of Offer (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Period</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), the Offered Shareholder shall have the right to Dispose of Bound Shares held by it, and the Offeror shall be obliged to acquire </font><font style="font-family: Cambria; font-size: 12pt;">such shares</font><font style="font-family: Cambria; font-size: 12pt;">, for the same price per share and under the same payment conditions as set out in the Notice of Offer (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offer Price</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), being the lot of Bound Shares to be Disposed of to the Offeror formed by Bound Shares of the Offering Shareholder and Bound Shares of the Offered Shareholder, calculated </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">pro rata </font><font style="font-family: Cambria; font-size: 12pt;">to their </font><font style="font-family: Cambria; font-size: 12pt;">respective stakes in the total number of Bound Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Shares to be Jointly Disposed of</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">); and</font><br></p>
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<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt; text-indent: -36pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event, however, that </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a)</font><font style="font-family: Cambria; font-size: 12pt;"> the Offering Shareholder has Disposed of Bound Shares in the Period; and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b)</font><font style="font-family: Cambria; font-size: 12pt;"> the Offered Shares, as per the Notice of Offer, plus the Bound Shares already Disposed of by the Offering Shareholder in the Period (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Total Disposed of Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), correspond to twenty-five percent (25%) or more of the Bound Shares held by the Offering Shareholder on the date of the Notice of Offer of the first Disposal of Bound Shares </font><font style="font-family: Cambria; font-size: 12pt;">effected</font><font style="font-family: Cambria; font-size: 12pt;"> in the Period (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Percentage of the Total Disposed of Shares</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), then:</font></p>
<p style="margin-top: 0pt; margin-left: 70.8pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 70.8pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(y)</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Offered Shareholder shall have the right to Dispose of to the Offeror, and the Offeror shall be obliged to acquire, in addition to the Offered Shares, the number of Bound Shares held by the Offered Shareholder on the date of the Notice of Offer corresponding to the Percentage of the Total Disposed of Shares (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Bound Shares to be Added to the Sale</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">); and</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 70.8pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(z)</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Bound Shares to be Added to the Sale shall be acquired by the Offeror in a lump sum and for the Offer Price or for </font><font style="font-family: Cambria; font-size: 12pt;">the</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">higher Disposal price paid to the Offering Shareholder during the Period.</font></p>
<p style="margin-top: 0pt; margin-left: 36pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.1.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The provisions of Section </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">Erro</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">! Fonte de </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">refer&#234;ncia</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">n&#227;o</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">encontrada</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; color: #000000;">.</font><font style="font-family: Cambria; font-size: 12pt;">(ii) above shall apply irrespective of the Tag Along Right or of the Hol</font><font style="font-family: Cambria; font-size: 12pt;">ding Partner&#8217;s Tag Along Right </font><font style="font-family: Cambria; font-size: 12pt;">having already been ensured or exercised by the Offered Shareholder or by the Partners of the Offered Shareholder in the Period, provided that, in the event they have already exercised such right and Disposed of any Bound Shares, such Offered Shareholder or its Partners, in that case, shall have the right to Dispose of to the Offeror, in addition to the Offered Shares, the number of Bound Shares corresponding to the percentage of Bound Shares to be Disposed of by the Offering Shareholder as per the last Notice of Offer.</font></p>
<p style="margin-top: 0pt; margin-left: 54pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The exercise of the Tag Along Right shall be formalized by means of </font><font style="font-family: Cambria; font-size: 12pt;">a </font><font style="font-family: Cambria; font-size: 12pt;">notice </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">sent to the Offering Shareholder within up to twenty (20) days from the date of receipt of the Notice of Offer.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Offered Shareholder does not exercise its Tag Along Right within the term provided for in Section </font><font style="font-family: Cambria; font-size: 12pt;">7.2</font><font style="font-family: Cambria; font-size: 12pt;"> above, each Holding Partner holding a direct stake in the Offered Shareholder shall have the right to Dispose of to the </font><font style="font-family: Cambria; font-size: 12pt;">Offeror a number of Bound Shares indirectly held by it </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">calculated by applying the percentage of its equity stake in such Holding on the</font><font style="font-family: Cambria; font-size: 12pt;"> number of</font><font style="font-family: Cambria; font-size: 12pt;"> Shares to be Jointly Disposed of or on the Bound Shares to be Added to the Sale, as the case may be (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Holding Partner&#8217;s Tag Along Right</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Holding Partner&#8217;s Tag Along Right may be exercised up to the end of the Exercise Period referred to in Section </font><font style="font-family: Cambria; font-size: 12pt;">5.3</font><font style="font-family: Cambria; font-size: 12pt;"> above, by means of </font><font style="font-family: Cambria; font-size: 12pt;">a </font><font style="font-family: Cambria; font-size: 12pt;">notice </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">sent to the Offered Shareholder </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> informing of the irrevocable and irreversible exercise of the Holding Partner&#8217;s Tag Along Right, as well as the number of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> such Holding Partner actually intends to Dispose once the Migration, as defined in Section Nine of this Agreement, is implemented;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">presenting a copy of the Migration Notice referred to in Section </font><font style="font-family: Cambria; font-size: 12pt;">9.2</font><font style="font-family: Cambria; font-size: 12pt;"> of this Agreement (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Exercise of Holding Partner&#8217;s Tag Along Right</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Not later than three (3) days after the end of the Exercise Period, the Offered Shareholder shall inform to the Offering Shareholder which of the Holdings Partners have exercised the Holding Partner&#8217;s Tag Along Right and how many shares each one shall be entitled, and each Holding shall forward such information forthwith to their respective Holding Partners.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Offered Shareholder shall also forward to the Offering Shareholder copies of all Notices of Exercise of Holding Partner&#8217;s Tag Along Right it may have received.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event of exercise of a Holding Partner&#8217;s Tag Along Right, the lot of Offered Shares to be Disposed of to the Offeror shall be formed by the Offering Shareholder&#8217;s Bound Shares and </font><font style="font-family: Cambria; font-size: 12pt;">by </font><font style="font-family: Cambria; font-size: 12pt;">the shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">that the Holding Partner </font><font style="font-family: Cambria; font-size: 12pt;">shall receive</font><font style="font-family: Cambria; font-size: 12pt;"> as a result of the </font><font style="font-family: Cambria; font-size: 12pt;">applicable</font><font style="font-family: Cambria; font-size: 12pt;"> Migration, subject to the provisions of Sections 7.1(i), 7.1(ii), and 7.1.1.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.4.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Offering Shareholder shall wait until </font><font style="font-family: Cambria; font-size: 12pt;">the end </font><font style="font-family: Cambria; font-size: 12pt;">of the time periods </font><font style="font-family: Cambria; font-size: 12pt;">necessary</font><font style="font-family: Cambria; font-size: 12pt;"> to implement </font><font style="font-family: Cambria; font-size: 12pt;">the</font><font style="font-family: Cambria; font-size: 12pt;"> Migration requested by a Holding Partner </font><font style="font-family: Cambria; font-size: 12pt;">so</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">to </font><font style="font-family: Cambria; font-size: 12pt;">allow</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">th</font><font style="font-family: Cambria; font-size: 12pt;">e Disposal of Bound Shares object of the Offer to be implemented jointly with the disposal of </font><font style="font-family: Cambria; font-size: 12pt;">the shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">to be disposed of by the Holding Partner due to the exercise of the Holding Partner&#8217;s Tag Along Right, subject to a maximum period of ninety (90) days from the date the Notices of Exercise of Holding Partner&#8217;s Tag Along Right </font><font style="font-family: Cambria; font-size: 12pt;">were sent by </font><font style="font-family: Cambria; font-size: 12pt;">the Offered Shareholder to the Offering Shareholder.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The disposal of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> by the Offered Shareholder or by a Holding Partner as a result of the exercise of the Tag Along Right or of the Holding Partner&#8217;s Tag Along Right, as applicable, </font><font style="font-family: Cambria; font-size: 12pt;">shall be effected by means of the execution of a </font><font style="font-family: Cambria; font-size: 12pt;">Share Transfer Order &#8211; STA</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Ordem</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Transfer&#234;ncia</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> &#8211; OTA</font><font style="font-family: Cambria; font-size: 12pt;">)</font><font style="font-family: Cambria; font-size: 12pt;"> to the entity in charge of the Company&#8217;s book entry shares, and they shall not be required to enter into any share purchase and sale agreement, to offer guarantees, or to </font><font style="font-family: Cambria; font-size: 12pt;">undertake any other obligations that the Offering Shareholder may have agreed or may agree in the future with the Offeror.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">7.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Tag Along Right or the Holding Partner&#8217;s Tag Along Right</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">are </font><font style="font-family: Cambria; font-size: 12pt;">not exercised</font><font style="font-family: Cambria; font-size: 12pt;">, the Offered Shareholder may Dispose of the Offered Shares to the Offeror pursuant to the terms and subject to the conditions set forth in Section 5.5 above.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION EIGHT</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">RIGHT OF FIRST REFUSAL ON HOLDINGS SHARES AND QUOTAS</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The corporate documents of each Holding shall provide for </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">first degree </font><font style="font-family: Cambria; font-size: 12pt;">right of first refusal, that is, each Holding Partner</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">right of first refusal </font><font style="font-family: Cambria; font-size: 12pt;">in the event of </font><font style="font-family: Cambria; font-size: 12pt;">a </font><font style="font-family: Cambria; font-size: 12pt;">direct or indirect disposal of shares or quotas of the Holding in which it has a stake (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">First Degree </font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">);</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">rules for the admission of third parties, directly and indirectly, </font><font style="font-family: Cambria; font-size: 12pt;">as partner or shareholder of the</font><font style="font-family: Cambria; font-size: 12pt;"> Holding, provided that such documents shall impose as a condition of admission that any third parties adhere to this Agreement in the capacity as Holding Partn</font><font style="font-family: Cambria; font-size: 12pt;">er, without any restriction or condition</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and further, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">rules according to which, in the event the First Degree Right of First Refusal and the Second Degree Right of First Refusal, as defined in Section 8.2 below, are not exercised, the Migration will be mandatory, as set forth in Section Nine below, in order to ensure that the stake to be disposed of by the Holding Partner to a third party is always implemented by the delivery of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">corresponding to the shares object of the right of first refusal, except if the admission of a third party </font><font style="font-family: Cambria; font-size: 12pt;">as partner or shareholder of the Holding</font><font style="font-family: Cambria; font-size: 12pt;"> is approved as per the rules referred to in item (ii) of this Section 8.1.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Holding Partner (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offering Partner</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) intends to directly or indirectly Dispose of </font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Holding Shares or Quotas</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> and its</font><font style="font-family: Cambria; font-size: 12pt;"> respective partners in that Holding do not exercise their First Degree Right of First Refusal, then the Offering Partner shall offer to the </font><font style="font-family: Cambria; font-size: 12pt;">p</font><font style="font-family: Cambria; font-size: 12pt;">artners </font><font style="font-family: Cambria; font-size: 12pt;">of the other Holding </font><font style="font-family: Cambria; font-size: 12pt;">(</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offered Partners</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), by </font><font style="font-family: Cambria; font-size: 12pt;">means of a </font><font style="font-family: Cambria; font-size: 12pt;">notice (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Offer from Holding Partner</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), the right of first refusal to acquire all </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">corresponding to the </font><font style="font-family: Cambria; font-size: 12pt;">Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas</font><font style="font-family: Cambria; font-size: 12pt;"> of which it intends to Dispose </font><font style="font-family: Cambria; font-size: 12pt;">of </font><font style="font-family: Cambria; font-size: 12pt;">and that ha</font><font style="font-family: Cambria; font-size: 12pt;">ve</font><font style="font-family: Cambria; font-size: 12pt;"> been </font><font style="font-family: Cambria; font-size: 12pt;">subject to</font><font style="font-family: Cambria; font-size: 12pt;"> the First Degree Right of First Refusal (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Offered Indirect Stake</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), within thirty (30) days (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Second Degree Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Notice of Offer from Holding Partner shall:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">specify the name and full </font><font style="font-family: Cambria; font-size: 12pt;">qualification</font><font style="font-family: Cambria; font-size: 12pt;"> of whoever is interested in acquiring the Offered Indirect Stake (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Potential Acquirer</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), identifying, if it is a legal entity, its controlling or main shareholders, up to the level of the individuals;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">inform the number of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">comprised in the Offered Stake and the proportion </font><font style="font-family: Cambria; font-size: 12pt;">such number represent </font><font style="font-family: Cambria; font-size: 12pt;">of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> capital stock, as well as the total price </font><font style="font-family: Cambria; font-size: 12pt;">and the price </font><font style="font-family: Cambria; font-size: 12pt;">per share, in domestic currency, and the payment due date;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">be accompanied by a copy of the offer o</font><font style="font-family: Cambria; font-size: 12pt;">r</font><font style="font-family: Cambria; font-size: 12pt;"> equivalent document presented by the Potential Acquirer (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Indirect Stake Offer</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Offering Partner shall send the Notice of Offer from Holding Partner to the Holding in which it holds a stake, which shall deliver it forthwith to the other Holding, which in turn shall send a full copy of the Notice of Offer from Holding Partner to each Holding Partner holding a stake in it.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event any Offered Partner decides to exercise the Second Degree Right of First Refusal to acquire the Offered Indirect Stake (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Accepting Partner</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), it shall notify the Holding in which it holds a stake within thirty (30) days from the date of receipt by such Holding of the Notice of Offer from Holding Partner (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Exercise </font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Period of </font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">the Second Degree Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), informing of the irrevocable and irreversible exercise of the Second Degree Right of First Refusal to acquire the whole Offered Stake (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Notice of Exercise of Second Degree Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Not later than three (3) days after the end of the </font><font style="font-family: Cambria; font-size: 12pt;">Exercise Period of the Second Degree Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the Offered </font><font style="font-family: Cambria; font-size: 12pt;">Partners&#8217; Holding </font><font style="font-family: Cambria; font-size: 12pt;">shall inform to the </font><font style="font-family: Cambria; font-size: 12pt;">other Holding </font><font style="font-family: Cambria; font-size: 12pt;">the</font><font style="font-family: Cambria; font-size: 12pt;"> Holdings Partners </font><font style="font-family: Cambria; font-size: 12pt;">which </font><font style="font-family: Cambria; font-size: 12pt;">have exercised the </font><font style="font-family: Cambria; font-size: 12pt;">Second Degree Right of First Refusal </font><font style="font-family: Cambria; font-size: 12pt;">and how many shares each one shall be entitled, and each Holding shall forward such information forthwith to their respective Holdings Partners.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Offered Partners&#8217; Holding shall also forward to the other Holding copies of all Notices of Exercise of Holding Partner&#8217;s Tag Along Right it may have received.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event that more than one Offered Partner exercises the Second Degree Right of First Refusal, the Offered Stake shall be shared </font><font style="font-family: Cambria; font-size: 12pt;">among</font><font style="font-family: Cambria; font-size: 12pt;"> the Accepting Partners </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">pro rata</font><font style="font-family: Cambria; font-size: 12pt;"> to each Accepting Partner&#8217;s stake in the capital stock of the respective Holding, </font><font style="font-family: Cambria; font-size: 12pt;">without </font><font style="font-family: Cambria; font-size: 12pt;">considering</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the stakes of those Offered Partners </font><font style="font-family: Cambria; font-size: 12pt;">which</font><font style="font-family: Cambria; font-size: 12pt;"> have not exercised the Second Degree Right of First Refusal.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The acquisition</font><font style="font-family: Cambria; font-size: 12pt;"> of the Offered Stake shall be effected</font><font style="font-family: Cambria; font-size: 12pt;"> by means of the following steps:</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">transfer </font><font style="font-family: Cambria; font-size: 12pt;">to the Offering Partner </font><font style="font-family: Cambria; font-size: 12pt;">by </font><font style="font-family: Cambria; font-size: 12pt;">the Holding </font><font style="font-family: Cambria; font-size: 12pt;">in</font><font style="font-family: Cambria; font-size: 12pt;"> which it </font><font style="font-family: Cambria; font-size: 12pt;">has a stake</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">of shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">corresponding to the Offered Indirect Stake</font><font style="font-family: Cambria; font-size: 12pt;">;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">acquisition of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">in the exact terms of the Notice of Offer from Holding Partner within thirty (30) days from the Notice of Exercise of Second Degree Right of First Refusal</font><font style="font-family: Cambria; font-size: 12pt;">, upon the execution of a </font><font style="font-family: Cambria; font-size: 12pt;">Share Transfer Order &#8211; STA</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Ordem</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">Transfer&#234;ncia</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> de </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> &#8211; OTA</font><font style="font-family: Cambria; font-size: 12pt;">)</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">to the entity in charge of the Company&#8217;s book entry shares;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">capital increase of the Holding of which the Accepting Partner is a partner in order for such Holding Partner to contribute with the acquired </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> shares.</font></p>
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<p style="margin-top: 0pt; margin-left: 56.7pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.6.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Each Holding Partner hereby undertakes </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> to approve the capital increase of the Holding of which it is a partner in order to comply with the provisions of Section 8.6 above;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">not to exercise the preemptive right to which it will be entitled by virtue of such capital increase.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.7.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event the Second Degree Right of First Refusal is not exercised by any Offered Partner, the Offering Partner may, at its discretion, within thirty (30) days from the end of the Exercise Period of the Second Degree Right of First Refusal, dispose of the Offered Indirect Stake to the Potential Acquirer in the exact terms of the Offer, except if the Potential Acquirer has been admitted as partner</font><font style="font-family: Cambria; font-size: 12pt;"> or shareholder</font><font style="font-family: Cambria; font-size: 12pt;"> of the Holding, in which case the disposal shall entail the transfer of the </font><font style="font-family: Cambria; font-size: 12pt;">Holding Shares or Quotas</font><font style="font-family: Cambria; font-size: 12pt;">.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">In any event, if the proposed disposal is not consummated within the thirty (30)-day period referred to in this Section 8.7, any Disposal of Offered Indirect Stake shall </font><font style="font-family: Cambria; font-size: 12pt;">require</font><font style="font-family: Cambria; font-size: 12pt;"> the Offering Partner </font><font style="font-family: Cambria; font-size: 12pt;">to </font><font style="font-family: Cambria; font-size: 12pt;">execute once again</font><font style="font-family: Cambria; font-size: 12pt;"> the whole procedure described in this Section </font><font style="font-family: Cambria; font-size: 12pt;">Eight</font><font style="font-family: Cambria; font-size: 12pt;">, subject </font><font style="font-family: Cambria; font-size: 12pt;">first </font><font style="font-family: Cambria; font-size: 12pt;">to the </font><font style="font-family: Cambria; font-size: 12pt;">First Degree Right of First Refusal.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">8.8.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event any tag along right on </font><font style="font-family: Cambria; font-size: 12pt;">Holding Shares or Quotas</font><font style="font-family: Cambria; font-size: 12pt;">, established for the benefit of a Holding Partner in the Holdings&#8217; corporate documents, is exercised, then the Offering Partner shall, in the Notice of Offer from Holding Partner, inform the number of </font><font style="font-family: Cambria; font-size: 12pt;">Holding Shares or Quotas</font><font style="font-family: Cambria; font-size: 12pt;"> owned by each Holding Partner that is included in the Offered Indirect Stake, in order to allow the identification of each Holding Partner that will dispose of a </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">pro rata</font><font style="font-family: Cambria; font-size: 12pt;"> portion of the Offered Indirect Stake.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION NINE</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">MIGRATION RIGHT</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">9.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holdings Partners shall be allowed to swap their direct stake</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> in the Holdings</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;</font><font style="font-family: Cambria; font-size: 12pt;"> capital stock for </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, as </font><font style="font-family: Cambria; font-size: 12pt;">provided for and according to the legal form established in</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings&#8217; corporate documents, subject to the provisions of this Section Nine (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Migration</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">that the Holding Partner shall receive as a result of the Migration shall be deemed Free Shares for the purposes of this Agreement, except in the case of a Migration of the whole stake </font><font style="font-family: Cambria; font-size: 12pt;">held by</font><font style="font-family: Cambria; font-size: 12pt;"> a Holding Partner, which, in that event, will no longer be a signatory of this Agreement and shall no longer be bound by the terms and conditions </font><font style="font-family: Cambria; font-size: 12pt;">of this Agreement</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;"><br></font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">9.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The Holding Partner </font><font style="font-family: Cambria; font-size: 12pt;">that</font><font style="font-family: Cambria; font-size: 12pt;"> wants to proceed with a Migration shall first notify the Holding in which </font><font style="font-family: Cambria; font-size: 12pt;">he/she/</font><font style="font-family: Cambria; font-size: 12pt;">it holds a stake informing of the exercise of the Migration right</font><font style="font-family: Cambria; font-size: 12pt;"> and formalizing a swap offer informing </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">the number of shares or </font><font style="font-family: Cambria; font-size: 12pt;">quotas of </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Holding&#8217;s capital stock that </font><font style="font-family: Cambria; font-size: 12pt;">he/she/</font><font style="font-family: Cambria; font-size: 12pt;">it intends to swap;</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">the corresponding number of </font><font style="font-family: Cambria; font-size: 12pt;">shares</font><font style="font-family: Cambria; font-size: 12pt;"> issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Migration Notice</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Holding shall forward a full copy of the Migration Notice forthwith to each Holding Partner holding a stake in it.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">9.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Within up to fifteen (15) days from </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">delivery of the Migration Notice, the Holding Partner that wishes to make the swap with the Holding Partner that started the Migration shall notify the Holding informing it of </font><font style="font-family: Cambria; font-size: 12pt;">his/her/</font><font style="font-family: Cambria; font-size: 12pt;">its irrevocable and irreversible decision to make the swap and the number of Free Shares owned by </font><font style="font-family: Cambria; font-size: 12pt;">he/she/</font><font style="font-family: Cambria; font-size: 12pt;">it that </font><font style="font-family: Cambria; font-size: 12pt;">he/she/</font><font style="font-family: Cambria; font-size: 12pt;">it accepts to swap.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Within up to three (3) days after the end of such period, the Holding shall inform to all Holdings Partners holding a stake in it which </font><font style="font-family: Cambria; font-size: 12pt;">p</font><font style="font-family: Cambria; font-size: 12pt;">artners have expressed </font><font style="font-family: Cambria; font-size: 12pt;">interest </font><font style="font-family: Cambria; font-size: 12pt;">to make the swap and how many shares or quotas each one wishes to swap.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The Holding shall forward to the Holding Partner that started the Migration all notices it may have received.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The swap shall be implemented within up to five (5) days after such communication.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">9.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">In the event more than one Holding Partner accepts the swap and the number of shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">they accept to swap exceeds, in the aggregate, the number informed in the Migration Notice, they shall participate in the swap </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">pro rata </font><font style="font-family: Cambria; font-size: 12pt;">to the number of shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">that each one accepted to swap.</font><font style="font-family: Cambria; font-size: 8pt; vertical-align: super;"> </font><font style="font-family: Cambria; font-size: 12pt;">In the event, however, the number of </font><font style="font-family: Cambria; font-size: 12pt;">shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambria; font-size: 12pt;">offered to be swapped does not reach, in the aggregate, the number </font><font style="font-family: Cambria; font-size: 12pt;">informed in the Migration Notice, the Holding Partner that has started the Migration may request the Holding in which </font><font style="font-family: Cambria; font-size: 12pt;">he/she/</font><font style="font-family: Cambria; font-size: 12pt;">it holds a stake to implement the Migration of the remaining portion, as set forth in Section 9.5 below.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">9.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In the event none of the Holding Partners accepts the swap, or the swap is accepted only in part as set forth in Section 9.4 above, the Holding in which the Holding Partner that has started the Migration has a stake shall make the swap in order to enable the migration in the exact number of shares i</font><font style="font-family: Cambria; font-size: 12pt;">nformed in the Migration Notice. The Migration shall be implemented by means of a swap or share repurchase, share redemption, or other form indicated in the Migration Notice, as long as</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">it is reasonable and legal, and provided further that all</font><font style="font-family: Cambria; font-size: 12pt;"> the necessary measures </font><font style="font-family: Cambria; font-size: 12pt;">and resolutions necessary</font><font style="font-family: Cambria; font-size: 12pt;"> to enable the Migration</font><font style="font-family: Cambria; font-size: 12pt;"> shall be taken</font><font style="font-family: Cambria; font-size: 12pt;">, including, </font><font style="font-family: Cambria; font-size: 12pt;">if applicable, by the holding of a</font><font style="font-family: Cambria; font-size: 12pt;"> general shareholders&#8217; or partners&#8217; meeting of the Holding</font><font style="font-family: Cambria; font-size: 12pt;">, including to resolve on</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">capital stock </font><font style="font-family: Cambria; font-size: 12pt;">reduction </font><font style="font-family: Cambria; font-size: 12pt;">if there are no profits and reserves in the respective Holding</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">or </font><font style="font-family: Cambria; font-size: 12pt;">by any other effective alternative for the delivery of</font><font style="font-family: Cambria; font-size: 12pt;"> shares </font><font style="font-family: Cambria; font-size: 12pt;">issued by </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar to the Holding Partner.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION TEN</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ADHERENCE TO THE AGREEMENT UPON VOLUNTARY DISPOSAL OR ENCUMBRANCE</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">10.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partners hereby agree that it shall be a condition of the validity </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i)</font><font style="font-family: Cambria; font-size: 12pt;"> of </font><font style="font-family: Cambria; font-size: 12pt;">any</font><font style="font-family: Cambria; font-size: 12pt;"> Disposal of Bound Shares or Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> of any Encumbrance of Bound Shares or Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas which results in a transfer of voting rights, </font><font style="font-family: Cambria; font-size: 12pt;">as well as</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: Cambria; font-size: 12pt;"> of rights attached to this Agreement, </font><font style="font-family: Cambria; font-size: 12pt;">that the third party</font><font style="font-family: Cambria; font-size: 12pt;"> adheres</font><font style="font-family: Cambria; font-size: 12pt;"> to the provisions of this Agreement, without any reservations or </font><font style="font-family: Cambria; font-size: 12pt;">condition</font><font style="font-family: Cambria; font-size: 12pt;">, to which </font><font style="font-family: Cambria; font-size: 12pt;">provisions </font><font style="font-family: Cambria; font-size: 12pt;">such third party shall be automatically bound, irrevocably and irreversibly, on </font><font style="font-family: Cambria; font-size: 12pt;">his/hers/</font><font style="font-family: Cambria; font-size: 12pt;">its own behalf and on behalf of </font><font style="font-family: Cambria; font-size: 12pt;">his/hers/</font><font style="font-family: Cambria; font-size: 12pt;">its heirs and successors.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION ELEVEN</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ADHERENCE TO THE AGREEMENT UPON INVOLUNTARY DISPOSAL</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">11.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The Holdings Partners hereby </font><font style="font-family: Cambria; font-size: 12pt;">undertake to endeavor their best efforts to avoid and prevent that any Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas held by </font><font style="font-family: Cambria; font-size: 12pt;">them </font><font style="font-family: Cambria; font-size: 12pt;">are</font><font style="font-family: Cambria; font-size: 12pt;"> transferred to his or her spouse in the event of judicial or extrajudicial separation, divorce, dissolution of common-law marriage equivalent (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">uni&#227;o</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">est&#225;vel</font><font style="font-family: Cambria; font-size: 12pt;">), or cohabitation (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">concubinato</font><font style="font-family: Cambria; font-size: 12pt;">) </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt;">upon the distribution of his or her properties, by replacing his or her Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uot</font><font style="font-family: Cambria; font-size: 12pt;">as with another property owned by him or her</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">11.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">Notwithstanding the provision above, in the event of transfer of </font><font style="font-family: Cambria; font-size: 12pt;">Bound Shares or of any Holding </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">hares or </font><font style="font-family: Cambria; font-size: 12pt;">q</font><font style="font-family: Cambria; font-size: 12pt;">uotas by a court order, including as a consequence of a judicial </font><font style="font-family: Cambria; font-size: 12pt;">distribution of assets as a result of probate proceedings or of judicial separation, divorce, common-law marriage equivalent (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">uni&#227;o</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;"> </font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">est&#225;vel</font><font style="font-family: Cambria; font-size: 12pt;">) or cohabitation (</font><font style="font-family: Cambria; font-size: 12pt; font-style: italic;">concubinato</font><font style="font-family: Cambria; font-size: 12pt;">), bankruptcy, winding up, attachment, public or private auction, the judicial acquirer shall adhere to all terms and conditions of this Agreement, without any reservation</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> or conditions</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION TWELVE</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">EFFECTIVE TERM AND SUCCESSORS</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">12.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">This Agreement is executed in an irrevocable and irreversible capacity and shall remain in force for five (5) years from the date hereof, which term may be automatically extended for </font><font style="font-family: Cambria; font-size: 12pt;">an equal </font><font style="font-family: Cambria; font-size: 12pt;">period, except if unilaterally terminated </font><font style="font-family: Cambria; font-size: 12pt;">by </font><font style="font-family: Cambria; font-size: 12pt;">either</font><font style="font-family: Cambria; font-size: 12pt;"> Part</font><font style="font-family: Cambria; font-size: 12pt;">y</font><font style="font-family: Cambria; font-size: 12pt;"> not later than </font><font style="font-family: Cambria; font-size: 12pt;">six (6) months before its final term.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">12.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In the event this Agreement is terminated by </font><font style="font-family: Cambria; font-size: 12pt;">Parth</font><font style="font-family: Cambria; font-size: 12pt;"> as per Section 12.1 above, it shall remain in force between </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;"> Partner</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">which shall remain bound to all </font><font style="font-family: Cambria; font-size: 12pt;">its terms and conditions for an additional five (5) years from the date the Agreement was terminated; provided that, in </font><font style="font-family: Cambria; font-size: 12pt;">this case</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">all references to </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt;">Party</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> or </font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt;">Parties</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;"> shall apply to the </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;"> Partners; and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: Cambria; font-size: 12pt;"> Sections Four, Five, Six, Seven, and Eight shall no longer be in force.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">12.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">This Agreement shall be binding, in all its terms and conditions, on the Holdings&#8217; successors</font><font style="font-family: Cambria; font-size: 12pt;">, and the</font><font style="font-family: Cambria; font-size: 12pt;"> Holdings Partners&#8217; successors</font><font style="font-family: Cambria; font-size: 12pt;">, heir</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and sharecroppers, subject to any restrictions on the entry of third parties under the terms of the Holdings&#8217; corporate documents, pursuant to Section 8.1 of this Agreement.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION THIRTEEN</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SPECIFIC PERFORMANCE</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">13.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partners, their successors and heirs, hereby agree that the obligations to which they are bound as a result of this Agreement are special, unique, and extraordinary, and that, in the event of breach by any party, damages would not be a suitable solution</font><font style="font-family: Cambria; font-size: 12pt;">, thus t</font><font style="font-family: Cambria; font-size: 12pt;">his Agreement shall be an extrajudicial execution instrument under Brazilian law and shall grant </font><font style="font-family: Cambria; font-size: 12pt;">to the signatories the right to demand</font><font style="font-family: Cambria; font-size: 12pt;"> for specific performance in order for any party or intervening party to comply with all </font><font style="font-family: Cambria; font-size: 12pt;">his/her/</font><font style="font-family: Cambria; font-size: 12pt;">its obligations arising out of this Agreement, </font><font style="font-family: Cambria; font-size: 12pt;">regardless of</font><font style="font-family: Cambria; font-size: 12pt;"> any damages or any other legal remedy to which they may be entitled, pursuant to the law.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">13.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">As provided for in Section 13.1 above, non</font><font style="font-family: Cambria; font-size: 12pt;">compliance </font><font style="font-family: Cambria; font-size: 12pt;">by the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> or</font><font style="font-family: Cambria; font-size: 12pt;"> by the Holdings Partners, their heirs and </font><font style="font-family: Cambria; font-size: 12pt;">successors, of </font><font style="font-family: Cambria; font-size: 12pt;">any of the obligations set forth in this Agreement shall entail specific performance of the obligations to </font><font style="font-family: Cambria; font-size: 12pt;">do</font><font style="font-family: Cambria; font-size: 12pt;"> and to </font><font style="font-family: Cambria; font-size: 12pt;">make a declaration of intent, as set forth in Article 118 of Law no. 6404/76 and other applicable provisions.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">13.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">For </font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">purposes of Article 118 of Law no. 6404/76, one </font><font style="font-family: Cambria; font-size: 12pt;">counterpart</font><font style="font-family: Cambria; font-size: 12pt;"> of this Agreement shall be filed, on the initiative of any of the signatories, at the headquarters of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;">, and </font><font style="font-family: Cambria; font-size: 12pt;">Parth</font><font style="font-family: Cambria; font-size: 12pt;">, which shall strictly comply with all its provisions.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">13.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The obligations arising out of this Agreement shall be annotated on the appropriate books of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;">, and </font><font style="font-family: Cambria; font-size: 12pt;">Parth</font><font style="font-family: Cambria; font-size: 12pt;">, and, if applicable, of the financial institution in charge, which annotations shall constitute an impediment to the performance of any acts and </font><font style="font-family: Cambria; font-size: 12pt;">legal actions or transaction</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">in breach of the provisions of </font><font style="font-family: Cambria; font-size: 12pt;">this Agreement. Accordingly, those companies shall be authorized to, in such event, refuse to register such acts and </font><font style="font-family: Cambria; font-size: 12pt;">legal actions or transaction</font><font style="font-family: Cambria; font-size: 12pt;"> and, consequently, </font><font style="font-family: Cambria; font-size: 12pt;">refuse to transfer ownership or title to any rights </font><font style="font-family: Cambria; font-size: 12pt;">attached to </font><font style="font-family: Cambria; font-size: 12pt;">the shares and rights </font><font style="font-family: Cambria; font-size: 12pt;">provided in</font><font style="font-family: Cambria; font-size: 12pt;"> this Agreement, as well as</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">and notably</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> the exercise of the voting right</font><font style="font-family: Cambria; font-size: 12pt;"> arising from them.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">13.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In addition, the restrictions on Disposal</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> and Encumbrance</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> of equity stakes referred to in this Agreement shall be annotated in the respective </font><font style="font-family: Cambria; font-size: 12pt;">Ultra</font><font style="font-family: Cambria; font-size: 12pt;">&#8217;s Share Register Book</font><font style="font-family: Cambria; font-size: 12pt;">, as per Article 40, I, combined with Sole Paragraph, of Law n</font><font style="font-family: Cambria; font-size: 12pt;">o.</font><font style="font-family: Cambria; font-size: 12pt;"> 6404/76, and, as to </font><font style="font-family: Cambria; font-size: 12pt;">Parth</font><font style="font-family: Cambria; font-size: 12pt;">, they shall be expressly mentioned in its articles of association.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">This Agreement shall be governed by and construed pursuant to the laws of the Federative Republic of Brazil.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Any omissions, doubts, disputes, conflicts, or controversies (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Controversy</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) among the signatories arising out of or related to this Agreement shall be submitted, within up to thirty (30) days, to a single conciliator appointed by the Parties by mutual consent, </font><font style="font-family: Cambria; font-size: 12pt;">and </font><font style="font-family: Cambria; font-size: 12pt;">all signatories hereby undertake to </font><font style="font-family: Cambria; font-size: 12pt;">comply, without any restriction or </font><font style="font-family: Cambria; font-size: 12pt;">condition, with the decision rendered by such conciliator</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In the event there is no unanimous consent as to the appointment of the single conciliator within the time period set forth in Section 14.2 above, the interested party (</font><font style="font-family: Cambria; font-size: 12pt;">the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> or the </font><font style="font-family: Cambria; font-size: 12pt;">Holdings Partners</font><font style="font-family: Cambria; font-size: 12pt;">, as the case may be) shall submit the </font><font style="font-family: Cambria; font-size: 12pt;">C</font><font style="font-family: Cambria; font-size: 12pt;">ontroversy to </font><font style="font-family: Cambria; font-size: 12pt;">a final and </font><font style="font-family: Cambria; font-size: 12pt;">binding arbitration by the Market Arbitration Chamber of </font><font style="font-family: Cambria; font-size: 12pt;">B3 S.A. - Brasil, Bolsa e </font><font style="font-family: Cambria; font-size: 12pt;">Balc&#227;o</font><font style="font-family: Cambria; font-size: 12pt;"> (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">CAM</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">), under its </font><font style="font-family: Cambria; font-size: 12pt;">arbitration rules in force on the date of the request for arbitration (</font><font style="font-family: Cambria; font-size: 12pt;">&#8220;</font><font style="font-family: Cambria; font-size: 12pt; text-decoration: underline;">Rules</font><font style="font-family: Cambria; font-size: 12pt;">&#8221;</font><font style="font-family: Cambria; font-size: 12pt;">) and in accordance with Law no. 9307/96 or any laws that may subsequently supersede it. The arbitrators shall not </font><font style="font-family: Cambria; font-size: 12pt;">decide</font><font style="font-family: Cambria; font-size: 12pt;"> based on </font><font style="font-family: Cambria; font-size: 12pt;">equity</font><font style="font-family: Cambria; font-size: 12pt;">, and</font><font style="font-family: Cambria; font-size: 12pt;"> shall prosecute and judge the arbitration pursuant to Brazilian law.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The arbitral tribunal shall be formed by three arbitrators, to be appointed according to the CAM rules.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The </font><font style="font-family: Cambria; font-size: 12pt;">place</font><font style="font-family: Cambria; font-size: 12pt;"> of the arbitration shall be the </font><font style="font-family: Cambria; font-size: 12pt;">City</font><font style="font-family: Cambria; font-size: 12pt;"> of S&#227;o Paulo, </font><font style="font-family: Cambria; font-size: 12pt;">State</font><font style="font-family: Cambria; font-size: 12pt;"> of S&#227;o Paulo, Brazil.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The language of the arbitration shall be Portuguese.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">The arbitral award shall be final, conclusive</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;"> and unappealable, shall be binding on the signatories, their successors and heirs, and may be enforced before any court of competent jurisdiction.</font><font style="font-family: Cambria; font-size: 12pt;"> </font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">14.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Before the arbitral tribunal is established, any requests for urgent relief, if applicable, shall be </font><font style="font-family: Cambria; font-size: 12pt;">submitted</font><font style="font-family: Cambria; font-size: 12pt;"> to </font><font style="font-family: Cambria; font-size: 12pt;">an emergency arbitrator, as provided for in item 5.1 of the CAM Rules, as in force on the date hereof (or any provision that may supersede it).</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">For any other court relief </font><font style="font-family: Cambria; font-size: 12pt;">measure </font><font style="font-family: Cambria; font-size: 12pt;">that may be necessary, the parties hereby elect the courts of the judicial district of S&#227;o Paulo, </font><font style="font-family: Cambria; font-size: 12pt;">State</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">of S&#227;o Paulo, as the court of exclusive jurisdiction, waiv</font><font style="font-family: Cambria; font-size: 12pt;">ing</font><font style="font-family: Cambria; font-size: 12pt;"> any others, however special</font><font style="font-family: Cambria; font-size: 12pt;"> or</font><font style="font-family: Cambria; font-size: 12pt;"> privileged they may be.</font></p>
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<h1 style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">SECTION FIFTEEN</font></h1>
<h1 style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">COMMUNICATIONS AND NOTICES</font></h1>
<p style="margin-top: 0pt; margin-bottom: 0pt; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">15.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">All notices and other communications among the signatories of this Agreement shall be made in writing and sent to the addresses in the preamble</font><font style="font-family: Cambria; font-size: 12pt;"> of this Agreement</font><font style="font-family: Cambria; font-size: 12pt;">, by means of </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(i) </font><font style="font-family: Cambria; font-size: 12pt;">any electronic means with proof of receipt; </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: Cambria; font-size: 12pt;">a</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: Cambria; font-size: 12pt;">titles and deeds registrar; or </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(iii) </font><font style="font-family: Cambria; font-size: 12pt;">registered mail, return receipt requested.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">15.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">Until any change in the addresses indicated in the preamble is communicated to the other signatories, any notices, communications, subpoenas, and summonses sent to those addresses shall be </font><font style="font-family: Cambria; font-size: 12pt;">deemed </font><font style="font-family: Cambria; font-size: 12pt;">valid</font><font style="font-family: Cambria; font-size: 12pt;"> and effective</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-variant: small-caps; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">SECTION SIXTEEN</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">MISCELLANEOUS</font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;"> AND PROVISIONAL PROVISIONS</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;">16.1.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">Any omission by any of the signatories with respect to any noncompliance with the terms, provisions, or conditions of this Agreement, or any failure to exercise any right set forth in this Agreement, shall not constitute waiver or affect such signatory&#8217;s right to enforce them in the future, except if otherwise provided for in this Agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;">16.2.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">Any forbearance by any of the signatories as to any late performance by the others of the obligations undertaken under this Agreement shall not entail novation of the covenants </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">contained</font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;"> in this Agreement or waiver of the rights that are attributed to </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">such signatory</font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;"> by virtue of this Agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.3.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">Any </font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;">amendment</font><font style="font-family: Cambria; font-size: 12pt; letter-spacing: -0.2pt;"> or </font><font style="font-family: Cambria; font-size: 12pt;">change</font><font style="font-family: Cambria; font-size: 12pt;"> of this Agreement shall only be made and shall only be effective upon all signatories&#8217; written consent.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.4.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In the event any of the provisions of this Agreement is deemed invalid, ineffective, or unenforceable under any aspect, the validity, effectiveness, or enforceability of the remaining provisions of this Agreement shall not be affected or impaired by such fact in any way whatsoever.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">The signatories shall negotiate in good </font><font style="font-family: Cambria; font-size: 12pt;">faith and </font><font style="font-family: Cambria; font-size: 12pt;">with due regard to </font><font style="font-family: Cambria; font-size: 12pt;">the original intention of those involved the replacement of the invalid, ineffective, or unenforceable provisions by valid provisions whose economic effect is as close as possible to the economic effect of the invalid, ineffective, or unenforceable provisions.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.5.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">In </font><font style="font-family: Cambria; font-size: 12pt;">the event of conflict or incompatibility among the corporate documents or other shareholders&#8217; or </font><font style="font-family: Cambria; font-size: 12pt;">quotaholders</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; agreements of the Holdings and this Agreement, the provisions of this Agreement shall prevail.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.6.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">This Agreement shall be the entire agreement between its signatories and shall supersede any prior understandings, discussions, or agreements, oral or written, with respect to the matters governed hereby.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.7.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">The Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partners shall not enter into any other agreements or contracts to govern the matters governed by </font><font style="font-family: Cambria; font-size: 12pt;">this Agreement </font><font style="font-family: Cambria; font-size: 12pt;">or directly or indirectly related to the matters governed by</font><font style="font-family: Cambria; font-size: 12pt;"> this Agreement</font><font style="font-family: Cambria; font-size: 12pt;">, except for shareholders&#8217; or </font><font style="font-family: Cambria; font-size: 12pt;">quotaholders</font><font style="font-family: Cambria; font-size: 12pt;">&#8217; agreements of the Holdings, and provided that </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(a)</font><font style="font-family: Cambria; font-size: 12pt;"> they do not conflict with this Agreement, subject to the provisions of Section 1.3 above, and </font><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">(b)</font><font style="font-family: Cambria; font-size: 12pt;"> their execution is forthwith communicated by </font><font style="font-family: Cambria; font-size: 12pt;">means of a </font><font style="font-family: Cambria; font-size: 12pt;">notice with full copy of such agreement </font><font style="font-family: Cambria; font-size: 12pt;">to be </font><font style="font-family: Cambria; font-size: 12pt;">sent to the Holdings, which shall </font><font style="font-family: Cambria; font-size: 12pt;">in turn </font><font style="font-family: Cambria; font-size: 12pt;">forward a full copy of such notice to their respective Holdings Partners.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.8.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp; &nbsp;&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">All time periods set forth in this Agreement shall be counted as </font><font style="font-family: Cambria; font-size: 12pt;">set </font><font style="font-family: Cambria; font-size: 12pt;">for</font><font style="font-family: Cambria; font-size: 12pt;">th</font><font style="font-family: Cambria; font-size: 12pt;"> in the </font><font style="font-family: Cambria; font-size: 12pt;">Brazilian </font><font style="font-family: Cambria; font-size: 12pt;">Code of Civil Procedure.</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">For that purpose, holiday</font><font style="font-family: Cambria; font-size: 12pt;">s shall be deemed</font><font style="font-family: Cambria; font-size: 12pt;"> any day that is a holiday in the </font><font style="font-family: Cambria; font-size: 12pt;">City</font><font style="font-family: Cambria; font-size: 12pt;"> of S&#227;o Paulo.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.9.</font><font style="font: 7pt 'Times New Roman'; -aw-import: spaces;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: Cambria; font-size: 12pt;">None of the signatories shall have the right to assign or transfer the rights and obligations arising out of or related to this Agreement without the prior written consent of all the other</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;">ignatories</font><font style="font-family: Cambria; font-size: 12pt;">, except in the events set forth in this Agreement.</font></p>
<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">16.10.</font><font style="font: 7pt 'Times New Roman';"> </font><font style="font-family: Cambria; font-size: 12pt; -aw-import: spaces;">&nbsp;</font><font style="font-family: Cambria; font-size: 12pt;">On this date, (i) a Plenary Previous Meeting will be held, in which the Holdings Partners shall elect the RPO Members, who, exceptionally, will have a mandate coinciding with that of </font><font style="font-family: Cambria; font-size: 12pt;">Ultrapar&#8217;s</font><font style="font-family: Cambria; font-size: 12pt;"> members of the board of directors that may be elected at the 2021 ordinary general meeting, and (ii) a</font><font style="font-family: Cambria; font-size: 12pt;">n</font><font style="font-family: Cambria; font-size: 12pt;"> </font><font style="font-family: Cambria; font-size: 12pt;">Ordinary Previous Meeting</font><font style="font-family: Cambria; font-size: 12pt;"> will be held, that will elect its chairman.</font></p>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; font-size: 12pt;"><font style="font-family: Cambria; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">IN WITNESS WHEREOF, the Holdings</font><font style="font-family: Cambria; font-size: 12pt;"> and</font><font style="font-family: Cambria; font-size: 12pt;"> the Holdings Partner</font><font style="font-family: Cambria; font-size: 12pt;">s</font><font style="font-family: Cambria; font-size: 12pt;"> execute this Agreement in </font><font style="font-family: Cambria; font-size: 12pt;">[5 (</font><font style="font-family: Cambria; font-size: 12pt;">five</font><font style="font-family: Cambria; font-size: 12pt;">)] </font><font style="font-family: Cambria; font-size: 12pt;">counterparts with the same form and contents, before the two undersigned witnesses.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-left: 35.45pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">S&#227;o Paulo</font><font style="font-family: Cambria; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt;">August 18, 2020</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-left: 35.45pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 150%; font-size: 12pt;"><font style="font-family: Cambria;">_____________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">ULTRA S.A. PARTICIPA&#199;&#213;ES</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 150%; font-size: 12pt;"><font style="font-family: Cambria;">_____________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">PARTH DO BRASIL PARTICIPA&#199;&#213;ES LTDA.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">In the capacity as intervening parties and bound by the provisions of this Agreement:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-left: 35.4pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;"><br></font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">Jean Pierre Roy Jr. (attorney-in-fact</font><font style="font-family: Cambria; font-weight: bold;">)</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">VENUS QUARTZ LLC</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">Jean Pierre Roy Jr. (attorney-in-fact)</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">JENNINGS LUIS IGEL HOFFENBERG</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">PEDRO IGEL DE BARROS SALLES</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">Witnesses:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">___________________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">Name:</font><font style="width: 2.37pt; display: inline-block;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">I.D.:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">CPF: </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria; font-weight: bold;">___________________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">Name:</font><font style="width: 2.37pt; display: inline-block;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">I.D.:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 115%; font-size: 12pt;"><font style="font-family: Cambria;">CPF: </font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font-size: 12pt;"><font style="font-family: Cambria; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">TERM OF ADHESION</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold;">TO THE SHAREHOLDERS&#8217; AGREEMENT OF ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambia; font-size: 12pt;">By the present instrument, pursuant to Section 10.1 of the Shareholders' Agreement of </font><font style="font-family: Cambia; font-size: 12pt;">Ultrapar </font><font style="font-family: Cambia; font-size: 12pt;">Participa&#231;&#245;es</font><font style="font-family: Cambia; font-size: 12pt;"> S.A., </font><font style="font-family: Cambia; font-size: 12pt;">entered into</font><font style="font-family: Cambia; font-size: 12pt;"> on August 18, 2020 (&#8220;</font><font style="font-family: Cambia; font-size: 12pt; text-decoration: underline;">Agreement</font><font style="font-family: Cambia; font-size: 12pt;">&#8221;), </font><font style="font-family: Cambia; font-size: 12pt; font-weight: bold;">MARCOS MARINHO LUTZ</font><font style="font-family: Cambia; font-size: 12pt;">, Brazilian citizen, </font><font style="font-family: Cambria; font-size: 12pt; background-color: #000000;">xxxxxx</font><font style="font-family: Cambia; font-size: 12pt;">, </font><font style="font-family: Cambria; font-size: 12pt; background-color: #000000;">xxxxxx</font><font style="font-family: Cambia; font-size: 12pt;">, national identity card (RG) Nr. </font><font style="font-family: Cambria; font-size: 12pt; background-color: #000000;">xxxxxx</font><font style="font-family: Cambia; font-size: 12pt;">, and</font><font style="font-family: Cambia; font-size: 12pt;"> enrolled with the Taxpayers Register (CPF</font><font style="font-family: Cambia; font-size: 12pt;">/ME</font><font style="font-family: Cambia; font-size: 12pt;">) under Nr. </font><font style="font-family: Cambria; font-size: 12pt; background-color: #000000;">xxxxxx</font><font style="font-family: Cambia; font-size: 12pt;">, resident and domiciled in the </font><font style="font-family: Cambria; font-size: 12pt; background-color: #000000;">xxxxxx</font><font style="font-family: Cambia; font-size: 12pt;"> ("Adherent"), fully adheres to the provisions of the Agreement, without any qualifications or reservations, and shall be automatically bound to the Agreement, irrevocably and irreversibly, on his</font><font style="font-family: Cambia; font-size: 12pt;"> own behalf and on behalf of heirs and successors, </font><font style="font-family: Cambia; font-size: 12pt;">considering</font><font style="font-family: Cambia; font-size: 12pt;"> his admission as a shareholder of Ultra, holding 2,275,000 common shares representing 2.4% of its capital stock, as approved by the Ultra Partners at a general meeting held on this date, and with which </font><font style="font-family: Cambia; font-size: 12pt;">Parth</font><font style="font-family: Cambia; font-size: 12pt;"> and the </font><font style="font-family: Cambia; font-size: 12pt;">Parth</font><font style="font-family: Cambia; font-size: 12pt;"> Partners have expressed their agreement by means of a letter signed also on this date.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambia; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">All terms in capital letters in this Term of Adhesion have the meanings attributed to them in the Agreement, except as otherwise expressly defined herein.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">The Adherent hereby declares, for all purposes, that he has received a copy of the Agreement and is fully aware of all its terms and conditions, undertaking to exercise and comply with and, if applicable, to ensure that his representatives or attorneys-in-fact exercise and comply with all the applicable rights and obligations under the Agreement.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">The present Term of Adhesion (</font><font style="font-family: Cambria; font-size: 12pt;">i</font><font style="font-family: Cambria; font-size: 12pt;">) becomes an integral part of the Agreement, under the terms and conditions set forth therein, (ii) will be filed at the headquarters of </font><font style="font-family: Cambria; font-size: 12pt;">Parth</font><font style="font-family: Cambria; font-size: 12pt;">, Ultra and Ultrapar, for all purposes of Article 118 of Law N</font><font style="font-family: Cambria; font-size: 12pt;">r</font><font style="font-family: Cambria; font-size: 12pt;">. 6</font><font style="font-family: Cambria; font-size: 12pt;">,</font><font style="font-family: Cambria; font-size: 12pt;">404/76, and (iii) is governed and interpreted in accordance with the laws of the Federative Republic of Brazil, being certain that any Dispute arising out of or related to this Term of Adhesion will be solved in the form of Section Fourteen of the Agreement, to which the Adherent also expressly adheres to this act, in full and without </font><font style="font-family: Cambria; font-size: 12pt;">qualifications</font><font style="font-family: Cambria; font-size: 12pt;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">This Term of Adhesion is signed in 3 (three) copies of equal content and form, before the two undersigned witnesses.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 12pt;">S&#227;o Paulo, August 31, 2021.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; line-height: 17pt;"><br></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 10pt; font-weight: bold;">_____________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 10pt; font-weight: bold;">MARCOS MARINHO LUTZ</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 10pt; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 17pt;"><font style="font-family: Cambria; font-size: 10pt; font-weight: bold;">Intervening parties:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria;">_____________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 17pt;"><font style="font-family: Cambria; font-size: 11pt; font-weight: bold;">ULTRA S.A. PARTICIPA&#199;&#213;ES</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 10pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria;">_____________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">PARTH DO BRASIL PARTICIPA&#199;&#213;ES LTDA.</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">ANA MARIA LEVY VILLELA IGEL</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">FABIO IGEL</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">M&#193;RCIA IGEL JOPPERT</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">ROG&#201;RIO IGEL</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">JOYCE IGEL DE CASTRO ANDRADE</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">LUCIO DE CASTRO ANDRADE FILHO</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">BRUNO IGEL</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">ANA ELISA ALVES CORR&#202;A IGEL</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">ROBERTO DE CASTRO ANDRADE</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">ROBERTA JOPPERT FERRAZ</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 10pt;"><br></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; line-height: 200%; font-size: 10pt; text-align: left;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 10pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 10pt;"><font style="font-family: Cambria; font-weight: bold;">P&#193;TRIA PRIVATE EQUITY VI</font><font style="font-family: Cambria;"> </font><font style="font-family: Cambria; font-weight: bold;">FIP MULTIESTRAT&#201;GIA</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 10pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">BETTINA IGEL HOFFENBERG</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">VENUS QUARTZ LLC</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">JENNINGS LUIS IGEL HOFFENBERG</font></p>
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<td style="width: 201.55pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">_________________________________</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 200%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold; -aw-import: ignore;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; page-break-after: avoid; line-height: 150%; font-size: 10pt;"><font style="font-family: Cambria; font-weight: bold;">Witnesses:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">___________________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria;">Name:</font><font style="width: 5.12pt; display: inline-block;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria;">I.D.:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria;">CPF:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; line-height: 150%; font-size: 11pt;"><font style="font-family: Cambria; font-weight: bold;">___________________________________________</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria;">Name:</font><font style="width: 5.12pt; display: inline-block;">&nbsp;</font></p>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; page-break-after: avoid; font-size: 11pt;"><font style="font-family: Cambria;">CPF:</font></p>
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<p style="margin-top: 0pt; margin-bottom: 12pt; text-align: center; font-size: 10pt; background-color: #ffffff;"><img src="img3tyjtbgxdqg06363577.jpg" style="-aw-left-pos: 0pt; -aw-rel-hpos: column; -aw-rel-vpos: paragraph; -aw-top-pos: 0pt; -aw-wrap-type: inline;" alt="Image1"></p>
<p style="margin-top: 12pt; margin-bottom: 12pt; text-align: center; font-size: 10pt; background-color: #ffffff;"><font style="font-family: 'Century Gothic'; font-weight: bold;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<div style="margin-top: 12pt; margin-bottom: 12pt; text-align: center; font-size: 10pt; background-color: #ffffff;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none;" href="#" name="B222_PS6M6TFP8000000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-weight: bold;">MATERIAL NOTICE</font></a></div>
<p style="margin-top: 12pt; margin-bottom: 12pt; text-align: center; font-size: 10pt; background-color: #ffffff;"><font style="font-family: 'Century Gothic'; font-weight: bold;">Notification received from </font><font style="font-family: 'Century Gothic'; font-weight: bold;">Ultra S.A. Participa&#231;&#245;es</font></p>
<p style="margin-top: 10pt; margin-bottom: 10pt; text-align: justify; widows: 0; orphans: 0; font-size: 10pt;"><font style="font-family: 'Century Gothic';">S&#227;o Paulo,</font><font style="font-family: 'Century Gothic';"> September</font><font style="font-family: 'Century Gothic';">&nbsp;</font><font style="font-family: 'Century Gothic';">28</font><font style="font-family: 'Century Gothic';">,</font><font style="font-family: 'Century Gothic';"> </font><font style="font-family: 'Century Gothic';">2021</font><font style="font-family: 'Century Gothic';">&nbsp;</font><font style="font-family: 'Century Gothic';">&#8211;</font><font style="font-family: 'Century Gothic';"> Ultrapar Participa&#231;&#245;es S.A. (B3: UGPA3 / NYSE: UGP, &#8220;Ultrapar&#8221;), </font><font style="font-family: 'Century Gothic';">pursuant to</font><font style="font-family: 'Century Gothic';"> </font><font style="font-family: 'Century Gothic';">CVM </font><font style="font-family: 'Century Gothic';">Resolution 44</font><font style="font-family: 'Century Gothic';">/21</font><font style="font-family: 'Century Gothic';">, </font><font style="font-family: 'Century Gothic';">hereby </font><font style="font-family: 'Century Gothic';">informs that it was notified by the shareholder Ultra S</font><font style="font-family: 'Century Gothic';">.</font><font style="font-family: 'Century Gothic';">A</font><font style="font-family: 'Century Gothic';">.</font><font style="font-family: 'Century Gothic';"> Participa&#231;&#245;es that Marcos Marinho Lutz </font><font style="font-family: 'Century Gothic';">became holder of</font><font style="font-family: 'Century Gothic';"> 2.4% of its capital and has joined the shareholders' agreement of August 18, 2020.</font></p>
<p style="margin-top: 10pt; margin-bottom: 10pt; text-align: justify; widows: 0; orphans: 0; font-size: 10pt;"><font style="font-family: 'Century Gothic';">Below is the translation of the complete transcript of the notification received:</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">&#8220;</font><font style="font-family: 'Century Gothic'; font-style: italic;">Dear Sirs</font><font style="font-family: 'Century Gothic'; font-style: italic;">,</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">We hereby inform you of Mr. Marcos Marinho Lutz's </font><font style="font-family: 'Century Gothic'; font-style: italic;">a</font><font style="font-family: 'Century Gothic'; font-style: italic;">dhesion</font><font style="font-family: 'Century Gothic'; font-style: italic;"> </font><font style="font-family: 'Century Gothic'; font-style: italic;">to the Shareholders</font><font style="font-family: 'Century Gothic'; font-style: italic;">&#8217;</font><font style="font-family: 'Century Gothic'; font-style: italic;"> Agreement of Ultrapar Participa&#231;&#245;es, to which he became a party, without any </font><font style="font-family: 'Century Gothic'; font-style: italic;">qualification</font><font style="font-family: 'Century Gothic'; font-style: italic;"> or reservation, under the terms and conditions set forth therein. The respective </font><font style="font-family: 'Century Gothic'; font-style: italic;">Term</font><font style="font-family: 'Century Gothic'; font-style: italic;"> </font><font style="font-family: 'Century Gothic'; font-style: italic;">of </font><font style="font-family: 'Century Gothic'; font-style: italic;">Adhesion</font><font style="font-family: 'Century Gothic'; font-style: italic;">, signed on August</font><font style="font-family: 'Century Gothic'; font-style: italic;"> 31, 2021 and the full copy of which is attached to this letter, becomes an integral part of the Agreement and, therefore, we request that it be duly filed at Ultrapar's </font><font style="font-family: 'Century Gothic'; font-style: italic;">headquarters</font><font style="font-family: 'Century Gothic'; font-style: italic;">, in the same way as it will be filed at the </font><font style="font-family: 'Century Gothic'; font-style: italic;">headquarters</font><font style="font-family: 'Century Gothic'; font-style: italic;"> of Ultra and Parth, for all purposes of Article 118 of Law 6,404/76.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">The </font><font style="font-family: 'Century Gothic'; font-style: italic;">adhesion</font><font style="font-family: 'Century Gothic'; font-style: italic;"> </font><font style="font-family: 'Century Gothic'; font-style: italic;">of Mr. Marcos Marinho Lutz to the agreement </font><font style="font-family: 'Century Gothic'; font-style: italic;">was triggered by</font><font style="font-family: 'Century Gothic'; font-style: italic;"> </font><font style="font-family: 'Century Gothic'; font-style: italic;">his </font><font style="font-family: 'Century Gothic'; font-style: italic;">participation in </font><font style="font-family: 'Century Gothic'; font-style: italic;">the capital stock of Ultra S.A., on August 31, 2021, when he became the holder of 2,275,000 (two million, two hundred and seventy-five thousand) common shares representing 2.4% of the capital stock of Ultra S.A.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">Without further ado, we subscribe</font><font style="font-family: 'Century Gothic'; font-style: italic;">.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">Sincerely</font><font style="font-family: 'Century Gothic'; font-style: italic;">,</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic; -aw-import: ignore;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-style: italic;">Ultra S.A. Participa&#231;&#245;es&#8221;</font></p>
<p style="margin-top: 10pt; margin-bottom: 10pt; text-align: justify; widows: 0; orphans: 0; font-size: 10pt;"><font style="font-family: 'Century Gothic';">Ultrapar also informs that the shareholders' agreement mentioned above, duly </font><font style="font-family: 'Century Gothic';">amended by</font><font style="font-family: 'Century Gothic';"> </font><font style="font-family: 'Century Gothic';">the </font><font style="font-family: 'Century Gothic';">Term </font><font style="font-family: 'Century Gothic';">of </font><font style="font-family: 'Century Gothic';">A</font><font style="font-family: 'Century Gothic';">dhesion</font><font style="font-family: 'Century Gothic';">, is filed on the CVM website.</font></p>
<p style="margin-top: 10pt; margin-bottom: 10pt; text-align: justify; widows: 0; orphans: 0; font-size: 10pt;"><font style="font-family: 'Century Gothic'; -aw-import: spaces;">&nbsp;</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 115%; font-size: 10pt;"><font style="font-family: 'Century Gothic'; font-weight: bold;">Rodrigo de Almeida Pizzinatto</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 115%; font-size: 10pt;"><font style="font-family: 'Century Gothic';">Chief Financial and Investor Relations Officer</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 115%; font-size: 10pt;"><font style="font-family: 'Century Gothic';">Ultrapar Participa&#231;&#245;es S.A.</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center; line-height: 115%; font-size: 10pt;"><br></p>
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<p style="margin-top: 0pt; margin-bottom: 10pt; line-height: 115%; font-size: 13pt;"><font style="font-family: 'times new roman', times; font-weight: bold; font-size: 12pt;">SIGNATURES</font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: justify; line-height: 115%; font-size: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">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.</font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: justify; line-height: 115%; font-size: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Date: September 28, 2021<font style="width: 16.45pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font><font style="width: 35.4pt; display: inline-block;">&nbsp;</font></font></p>
<p style="margin-top: 0pt; margin-bottom: 10pt; text-align: justify; line-height: 115%; font-size: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="width: 35.4pt; display: inline-block;"><br></font></font></p>
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<p><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 47.2px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">ULTRAPAR HOLDINGS INC.</font></font></font></p>
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<p><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>By: /s/ Rodrigo de Almeida&nbsp;Pizzinatto</font></font></p>
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<p><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>Name: Rodrigo de Almeida&nbsp;Pizzinatto</font></font></p>
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<p><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>Title: Chief Financial and Investor Relations Officer</font></font></p>
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<p style="margin-top: 0pt; margin-bottom: 10pt; line-height: 115%; font-size: 9pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;"><br></font></font></p>
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<p style="margin-top: 0pt; margin-bottom: 10pt; line-height: 115%; font-size: 9pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">(</font><font style="font-style: italic;">Shareholders' Agreement of Ultrapar </font><font style="font-style: italic;">Participa&#231;&#245;es</font><font style="font-style: italic;"> S.A.</font><font style="font-style: italic;">, </font><font style="font-style: italic;">Material Notice</font><font style="font-style: italic;">)</font></font></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
